This morning the pound continues to gain strength against the euro despite UK PMI disappointing market expectations yesterday. The PMI reading was forecast at 51.3 but fell below expectations to a more pessimistic 46.
Against the dollar, sterling is weaker this morning.
In political news, Tory leadership candidate Liz Truss has indicated she would review the Bank of England’s mandate. Her Rival Rishi Sunak however continues to strike at Truss’ economic policy and told Sky News he thinks changing the Bank’s mandate would be a mistake” which would “spook international investors” and ultimately be “bad for all of us.”
