The pound steadied on Friday, with less negative Brexit related headlines circling. And, although it was the worst performing major currency last week it’s showing some early signs of fight back this morning as investors seemingly brush aside the pessimistic weekend newspaper headlines, including one such headline from The Sun that there are currently 42 conservative MP letters to push for a vote of no-confidence in the PM, with 6 more letters required to trigger any vote.
Over the weekend it also transpired that five cabinet members emerged as the ‘Gang of Five’, whom have publicly thrown their support behind the PM, being Andrea Leadsom, Michael Gove, Liam Fox, Penny Mordaunt and Chris Grayling, albeit some are pushing May to change her Brexit plan.
The PM is due to give a speech to the CBI business lobby group’s annual conference today, and so there will obviously be a lot of focus on this. In terms of data this week, investors will have a keen ear on the Inflation Report Hearings.