Following a rather crazy month where we have seen exchange rates bounce all over the place, the consensus is that things may have levelled out somewhat. A survey of brokers suggested that all the “political shocks” of the last month such as Brexit and the change in PM have now been priced in and going forward it is back to basics, i.e. fundementals.

However with another BOE meeting to discuss rates today, the FED talking up another interest hike don’t expect completely smooth sailing and the “political” element of the small matter of an US election in November could shake things up a bit.

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