Dear Reader,

Today's overview of economic news and market action

• A number of different factors influenced sentiment last week …
• Led to a marked divergence on equity markets. Euro Stoxx 50 up 2.2%, S&P 500 down 1.9% …
• On bond markets, sovereign yields rose sharply, most notably in the UK …
• Currency-wise, the dollar was in the ascendancy …
• At the same time, sterling was under significant downward pressure …
• This sees GBP/USD open back in the lower half of the $1.21-1.22 corridor …
• EUR/GBP is up in 84p territory …
• EUR/USD opens this morning down at the $1.02 threshold …
• Very busy releases schedules in the UK & US this week …

All rates quoted are indicative market rates.