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AFEX Market Watch Wed 1st Feb 2017
GBP - Sterling The Pound had an excellent morning after Manufacturing PMI was released in line with expectations at 55.9 and on the back of a rumour that the BoE MPC vote tomorrow would see four members voting for a rate hike immediately.
- UK PM Theresa May also announced to parliament that the UK’s Government would release its white Paper on Brexit on Thursday.
- There was also a leaked report from the EU which concluded that the European Commission’s Brexit negotiators must strike a “workable” deal with the UK to protect the City of London or else the economies of the remaining member states will be damaged. The report said that it is “critical” for the economic health of the remaining member states that the current financial eco-system is not hit in the coming Brexit negotiations.
Execution Rates
GBP/USD: 1.2633
GBP/EUR: 1.1741