Vive la Revolution
2017 is a critical year for European politics not to mention the triggering of Article 50 and Trump.
The safe haven currencies benefitted yesterday as risk-aversion took grip of the FX markets.
Good morning and welcome to another week of fierce political debate, another central bank meeting and England finally performing in a major tournament.
A busy day of data yesterday kicked off with UK Retail sales first thing after figures released by the ONS showed that UK retail sales had risen 1.3% month-on-month in May (higher than the consensus of +0.5%) following an upward revised increase of 1.8% in April.
As football fans the world over excitedly await the start of the “greatest show on earth”, investors were in expectant mood overnight as the US Federal Reserve delivered on their second interest rate hike of the year.
The government received some much needed good news yesterday and staved off a political crisis by winning a number of votes on the EU Withdrawal Bill, including the rejection of the Lords Amendment 19 by a vote of 324-298.