Sterling turns into sinking ship…

US News

Signs of support for safe-havens continued last night, including things like Japanese Yen and Gold. Initial Jobless Claims are scheduled for this afternoon, this will give us a rough idea of what to expect in tomorrow’s more significant non-farm payrolls.

UK News

UK Industrial and Manufacturing production are both set to decline in today’s figure releases, which after what has happened so far in the second half of the calendar year, doesn’t si well for the pound. At the moment the pound is like a sinking ship, it is gradually geting worse and worse to a point of no return, for now anyway….

EU News

German figures fall for the second day in a row as the Industrial production fall below 0% from 0.5% – the biggest fall in almost 2 years

Morning Market Rates

GBPEUR  1.1695
GBPUSD  1.2955
EURUSD  1.1075