Prem Raja FX

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Shouldn't get too excited about the U.S jobs data, layoffs don't happen as much around holiday season- the next 3 months are the ones to watch.

⚠️ Pound gives its verdict on Tory leadership race. Sunak good. Johnson bad. Another $GBP short squeeze on the cards tomorrow as risks of another Boris term gets priced out. Positioning is a lot cleaner though so any rally might be short-lived

If a new Chancellor is appointed today, it'll be the fourth person to hold that office in the last 101 days. Political stability well and truly gone...

⚠️ Strong chance dip buyers emerge for $GBP this week. Markets are pricing in a BoP / fiscal crisis narrative already on the back of Truss. But sensible govt policy that eases stagflation crisis + reduces the need for sharp BoE hikes + lowers deep recession risks = good for pound

GERMAN GOVT SOURCES SAY UNIPER BELIEVED TO BE ONLY CANDIDATE THAT WILL NEED A STATE BAIL-OUT

SAS PILOT STRIKE TO START WITH IMMEDIATE EFFECT, UNION SAYS

STERLING UP 0.47% VS U.S. DOLLAR TO $1.2154

SAS WARNS CO.'S FUTURE AT RISK AS PILOTS UNION GOES ON STRIKE

PUTIN: TROOPS THAT 'LIBERATED' LUHANSK REGION SHOULD REST BUT OTHER MILITARY UNITS SHOULD CONTINUE FIGHTING

PUTIN CONGRATULATES RUSSIAN TROOPS FOR 'LIBERATING' UKRAINE'S LUHANSK REGION

BIDEN MAY ANNOUNCE DECISION TO CUT CHINESE TARIFFS THIS WEEK - WSJ.

Not great for Boris tbh

BREAKING: Results of the confidence vote in Boris Johnson. Confidence 211 No Confidence 148 A worse result than Theresa May suffered.

Even after the PMIs, markets are pricing in a 60bp rise in Bank Rate by August, implying near certainty that the MPC will hike by 25bp at its next two meetings, and a small chance of a monster 50bp hike. The risk now surely is the MPC bottles it at one of those meetings.

The PMI's collapse in May brings it closer to levels seen when the MPC has cut Bank Rate than hiked it before. The resilience of the price and employment balances likely will persuade the MPC to hike again in Jun or Aug, but the rapid hikes envisaged by markets now are v unlikely

@UreshP @MrMBrown @LondonAvBrad Moss Bros are good

Latest article- Short and sweet- thecurrencyblog.com/big-week-ahead…

@mstorey2015 I know we definitely saw 1.19 clipped-Unsure if we got any lower

Bye Bye Cable