Wednesday 4th July 2018

Overnight we saw US stocks fall and bond yields up, but the real action has been in China with a weakening of the Renminbi reportedly kept under control by lots of buying from state banks. NAB’s David de Garis talks through the impact of the PBoC’s assurances that they will keep the exchange rate stable, in particular what it means for the Aussie and Kiwi dollars, who finished the night in positive territory. Phil Dobbie also asks whether Sweden’s inflation forecasts to extend to Europe soon – and they look briefly at Theresa May’s new plan. Can she push it through without losing a few in her cabinet? Oh, and happy 4th July!