Sterling Drops

The single currency got over the Catalonian independence referendum scandal, Spanish yields increased as well. Sterling, on the other hand, is subdued by negative PMI, construction data pointed at reduction for the first time in over a year. Additionally, Conservative Party is still having a conference in Manchester and the currency is sensitive to it. Today, David Davis (Brexit secretary) and Theresa May’s competitor Boris Johnson will speak today. We will also hear from Fed’s Jerome Powell, who might take over after Janet Yellen’s post expires.