Bloomberg with sight of the G20 draft communique from the meeting in China 22 July 2016
- G20 hopes to see UK as close partner in EU
- Brexit consequences can be proactively addressed
- global recovery continues but remains weaker than desired
Also from China the UK fin min Hammond says:
- PMI report just a sentiment, we need to restore certainty
- we will support the economy through this period
A couple of steps backward to take three forward but over what time period and what damage in the meantime? That's what the market is unsure of.
Meanwhile EURGBP holding gains above 0.8400 sending GBPUSD to 1.3085 lows. Strong support/demand at 1.3050 reported.
