• Brexit uncertainty causes a volatile Pound.

    Brexit continues to dominate the news with the latest twist coming after speaker John Bercow, rejected a third Brexit vote unless there are changes to the motion. The U.K. Prime Minister Theresa May only has two days to secure backing before Thursday’s meeting with the bloc’s leaders. The uncertainty has resulted in significant swings in the Sterling as yesterday GBPUSD dropped as low as 1.3183 before recovering to 1.3287 at 10:32 GMT this morning.

    European markets traded slightly higher this morning as the Brexit vote was blocked and market participants speculating on a dovish tone from the U.S. Federal Reserve tomorrow night. The U.S. index futures also traded higher as onlookers anticipate the Fed meeting.

    Looking at individual stocks, Antofagasta shares rose 3% after the mining company announced a greater dividend pay-out.

    On data front, U.K. Average Earnings Index 3m/y was better than expected at 3.4% with the Unemployment Rate also better than expected at 3.9%.

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