Pound Sterling

Got a boost this morning against the U.S. Dollar

After news broke that U.K. wage growth had increased, despite other indicators of economic doom and gloom this year. Yesterday the Pound hit an 8 year low against the Euro, not seen since Europe was in the midst of the recession in 2009. One of Britains leading economic think tanks Capital Economics, has said it thinks the Pound will recover against the Euro and not fall to parity.

Elsewhere the Italian economy is growing, up by +1.5% vs the +1.4% expected year on year. The Netherlands also confounded expectations by seeing +1.5% GDP growth vs an expected +0.6%. The broad economic recovery across Europe is boosting optimism, with exports and investment also leading France to its strongest continuous expansion since 2011. Miners and oil stocks helped Europe's markets make strong gains on Wednesday. Higher metals prices meant mining firms like Anglo American, Glencore and Rio Tinto were up over 3% in afternoon trading.

Despite political strife involving comments from Donald Trump on the Charlottesville disaster, American markets including the S&P500 opened higher today too, with many investors awaiting the Federal Reserve's latest policy meeting minutes for clues on future interest rake hikes this year.

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