The highlight in currency markets overnight was a sharp reversal in the US dollar, caused by jumps in the GBP and EUR. The BoE remained on hold but the hike vote increased, and US data was soft. The S&P500 is down 0.6%.

The highlight in currency markets overnight was a sharp reversal in the US dollar, caused by jumps in the GBP and EUR. The BoE remained on hold but the hike vote increased, and US data was soft. The S&P500 is down 0.6%.

Markets were in a better mood overnight, with equities and bond yields slightly higher.

Markets were in a better mood overnight, with equities and bond yields slightly higher.

Markets were in a better mood overnight, with equities and bond yields slightly higher.

The risk-averse tone in markets persisted during the London morning, with attention remaining focussed on the US-China trade quarrel. The S&P500 is down 0.4%, after the Shanghai Composite closed down 3.8%, and major commodities are lower. The US dollar and yen were the best performing currencies, while interest rates were mixed.

The risk-averse tone in markets persisted during the London morning, with attention remaining focussed on the US-China trade quarrel. The S&P500 is down 0.4%, after the Shanghai Composite closed down 3.8%, and major commodities are lower. The US dollar and yen were the best performing currencies, while interest rates were mixed.

Fx and interest rate markets saw only minor movements, with little fresh news out. The S&P500 is down 0.3% and the AUD performed poorly, suggesting lingering effects from the US-China trade quarrel.

Fx and interest rate markets saw only minor movements, with little fresh news out. The S&P500 is down 0.3% and the AUD performed poorly, suggesting lingering effects from the US-China trade quarrel.

The trade spat between US and China appeared to hurt commodities and commodity currencies, with China threatening retaliatory tariffs on Friday.