Latest data released by ONS - 21 August 2018
- Prior +£4.5 billion; revised to +£3.3 billion
- PSNB (ex-banks) -£2.0 billion vs -£1.1 billion expected
- Prior (ex-banks) +£5.4 billion; revised to +£4.2 billion
- Public finances (PSNCR) -£19.2 billion vs +£13.3 billion prior
Looking at the details, public finances show the biggest July surplus since 2000 and the net debt (ex-banks) is equivalent to 75.2% of GDP - the lowest share of GDP since August 2012. That should continue to ease pressures on finance minister Hammond ahead of the annual budget statement later in the year.
Not a data point that will move the needle in the pound though. GBP/USD trades at 1.2820 currently as the dollar recovers a tad bit off the lows for the day. EUR/GBP remains at 0.8985 very much still trading range-bound between 0.8900 and 0.9000 for the past two weeks.
