By Lee Chappell, Corporate Dealer Currencies Direct
30th June 2016
According to a recent newspaper poll, two thirds of those who took part believed that London will continue as the World’s financial centre, even after the Brexit outcome started to settle. More than 50% from the same poll believe that the UK will retain its access to the EU single Market.
The FTSE 100 also staged a fight, moving back to levels last seen at the end of April. Sterling has tumbled after the shock of the Referendum outcome, but GBP against its major currency pairings are not too dissimilar to the markets during the 2015 General Elections, so major panic isn’t required just yet.
The UK, an ‘indispensable ally’
The UK had some welcome news as senior figures from the US, South Korea, Australia and New Zealand all opened their doors to a potential trade agreement, with a US House speaker naming Great Britain as their ‘indispensable ally’.
Not so good news for Nicola Sturgeon and Scotland as leaders from France & Spain both suggested that the EU should deal solely with the UK as a whole. This would not have sat well with the Scottish First Minister, as the Scots seem desperate to remain within the EU & keep all the securities that come with that status.
UK GDP and US Jobless Claim figures expected
Today we view German Unemployment data & Retail Sales alongside Eurozone CPI numbers. We also have UK Gross Domestic Product figures & US Initial Jobless Claims as well as Mark Carney speaking in London at 4pm.