Davy Research

Market comment

Sterling hits fresh low against the euro at 92.3p

DAVY VIEW

Sterling fell to a fresh low of 92.3p against the euro on Wednesday despite more conciliatory UK proposals on the European Court of Justice’s role post-Brexit. UK GDP data for Q2 2017, to be released this morning, are still likely to show a mediocre expansion of 0.3%, held back by weak investment but with consumer spending more resilient than the sharp slowdown initially feared.

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