Monday 7th August 2017

Good morning

Last week The Bank of England’s Monetary Policy Committee (MPC) left rates unchanged as expected. However, lower GDP (1.9% to 1.7% for 2017) now more convincingly reflects disappointing UK data since the beginning of the year.

GBP/EUR slipped to a new low of 1.1040 (opened at 1.1050 this morning) whilst GBP/USD also slipped from 1.32 to 1.3050, where it remains this morning.

A quiet week data wise with Australia and Canada enjoying a bank holiday today (and Scotland too).

Have a great week.