OVERVIEW
- Markets have retreated into tight ranges for the US holiday.
- Divergence in UK/EU PMI data propels GBP/EUR higher.
- Stocks head lower back to the bottom end of recent range.
HIGHLIGHT
CNY rose sharply this morning after the Chinese central bank offered reassurance that it would intervene in markets to maintain stability amid escalating trade tensions with the US. June was the Yuan’s worst month in history.