Morning Update – Walking in late to the party

Morning all

Another crushing defeat for May yesterday, so much so that she didn’t even bother turning up!

GBP & EUR

GBP hovering around 1 month lows at present after Theresa May lost a symbolic Brexit vote in parliament, no surprises really as the Eurosceptics in Parliament are really gaining traction and popularity within the media (Jacob Rees Mogg etc). So as it stands we are still set to leave the EU on March 29th.

Yesterday’s defeat whilst humiliating, will also further worry international investors that she has no persuasive skills to convince her cabinet to back any forthcoming amendments that she agrees with the EU.

USD

Lots of media attention is focused on this at present:

Shame really as trade talks with China are still rumbling on and US retail sales were appalling yesterday.

USD weakens but GBP is still leading the way as the worst performer masking any USD frailties.

Have a great weekend all

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