Analysts at Scotiabank explained that UK credit data was a little weaker than expected while money supply growth slowed in Aug.
Key Quotes:
“Sep manufacturing PMI data was a little more encouraging, gaining to 53.8, from an upwardly revised 53.0 in Aug.”
“Most focus is on the domestic political front, with the Tory party conference underway and Brexit likely to dominate the proceedings.”
“Former Foreign Sec. Johnson is due to speak Tuesday, with PM May speaking Wednesday. Her last two conference speeches have not gone particularly well and the GBP slumped, coincidentally perhaps, shortly after both.”
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