The movement to oust PM May looks to have fizzled out as a number of current and ex-party members (not least of all Sir John Major) speak out in support.
PM May will tell parliament that the government will prove Brexit doom-mongers, acknowledging that the negotiation progress will not always be smooth. Ongoing talk of a potential cabinet reshuffle.
Gathering some momentum this morning is a report in the UK press that some of the inflation data understated the headline numbers, leading some to believe this is cause to raise rates more rapidly. Sceptical!
Cable has moved back above 1.3100 in the meantime, in what looks to have been a move which will have (at the very least) delayed a move on 1.3000.
GBP/USD
This also sees EUR/GBP moving away from 0.9000, which we expected was going to be a hurdle in the near term.
EUR/GBP
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