Sterling remains subdued this morning as England’s departure from the world cup and Brexit uncertainty weigh on the pound. The government is due to release its white paper on its proposed future trading relationship with the EU later today with reaction from the other side of The Channel likely to be a driver of sterling once the details have been digested by EU chief negotiator, Michel Barnier and co. The publication later today may see some market movement, however the reaction from the EU will be the true litmus test of the revised plan. Donald Trump is due to arrive in the UK later today on his first official visit to these shores since becoming President. His first stop off on his European trip riled Nato members yesterday as he criticised members of the bloc for their lack of defence spending. Expect Brexit rhetoric and comments on trade from the President to make headlines and hit risk assets throughout the rest of the week. GBP is lower this morning. Bank of England Governor, Mark Carney is due to speak later today, however he may keep his cards close to his chest re: possible rate hike given next week’s wage, inflation and retail sales data from the UK. Should this trio of prints hit target, then an August rate hike may become fully priced in by markets to the pound’s benefit.