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July 2nd Market Updates

GBP/EUR opened at 1.1167, traded a high of 1.1204, a low of 1.1138 and closed at 1.1195 representing a 0.43% increase on Monday.
GBP/USD opened at 1.2696, traded a high of 1.2706, a low of 1.2632 and closed at 1.2637 representing a decrease of -0.45% on the day.
UK manufacturing PMI came in at 48.0 vs 49.5 expected.
ISM manufacturing PMI from the US came in at 51.7 vs 51.3 expected.
Chancellor of the Exchequer Philip Hammond said yesterday that the Tory leadership candidates must ‘be honest’ over spending adding that the pledges made by Boris Johnson and Jeremy Hunt ‘greatly exceed’ the Treasury’s coffers.
Iran has breached the limit on its stockpile of low-enriched Uranium set under a 2015 nuclear deal with world powers. The UK and Germany have called on Iran to reverse its decision with Donald Trump warning Iran that it was ‘playing with fire’. Iran’s move comes in response to sanctions implemented by the US.

Overnight

Australian rates remained at 1.00% overnight as expected.
GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8077, 1.8945 and 136.57, respectively.

Today

Boris Johnson and Jeremy Hunt will make their case for being the PM to Conservative members in Northern Ireland today.
Eurozone PPI m/m is due at 10am.
We have Canadian manufacturing PMI due at 2.30pm.

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