Good Morning ,

Here’s a quick look at today’s economic news and market activity:

• There was a mixed mood on markets yesterday …
• In the UK, the pound has strengthened following Starmer’s resignation and news of Burnham’s potential succession …
• In the US, sanctions have been removed on Iranian oil exports and traffic through the Strait of Hormuz continues to rise …
• This has led to brent crude declining by circa 3% yesterday, to near $77 per barrel …
• The euro was under modest downward pressure yesterday …
• EUR/GBP opens this morning back in the lower half of the 86-87p range …
• EUR/USD is operating in the bottom half of the $1.14-1.15 band …
• GBP/USD is changing hands in the $1.32-1.33 corridor …
• Today, UK, Eurozone and US flash PMIs will be released while remarks from several ECB and BoE officials will warrant attention …

All rates quoted are indicative market rates.