Trading the Brexit endgame from here
The Tory leadership battle is engaged and the candidate list will likely be winnowed down to Boris Johnson versus a more centrist candidate, with Johnson emerging victorious on July 22. We are constructive on the long-term outlook for sterling if the narrative changes as we expect.
JPY edging higher on uneasy global markets
Geopolitical headlines and anticipation of a more dovish Fed have driven a spike higher in gold and a further mild bid for the Japanese yen, but volatility continues to underwhelm, even if that could change as soon as at next Wednesday’s FOMC meeting.
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