There hasn’t been too much change in overnight Asian trade. Sterling weakness is a feature as the market frets about the future of Prime Minister Gordon Brown. Cable is down at 1.5930 from a North American close Friday around 1.5980, while EUR/GBP is up at .8780 from around .8740.
Interesting to see that Nick Robinson, a major UK political commentator, seems to think the Prime Minister might well survive. And this despite truly desperate results for Labour in the European elections.
Not too much in the way of meaningful European economic data today:
05:45 GMT: Swiss unemployment May expected 3.5%, seasonally adjusted 3.6%
08:30 GMT: Euro zone sentix investor confidence (June) expected -31.0
10:00 GMT: German factory orders (April) s.a. expected flat m/m, -33% y/y
