The UK continues to bask in the glory of yesterday’s retail figures and today it is the turn of Pub Landlords to be on the receiving end of the British Public’s free-spending as today is the most alcoholic day of the year in the UK. On the back of the retail data, GBP has strengthened healthily against the Euro and most other currencies.
News out of the ECB is that we are going to get a greater insight into what actually happens at monetary policy meetings. These meetings are changing to a 6 weekly cycle and accounts detailing what decisions were made and the rationale behind these decisions. Other major news coming out of the Eurozone was French President Hollande proposing the idea of easing back sanctions against Russia, despite Germany, the UK and US being vehemently against this. Hollande is, of course, trying to look after his own interests as France has suffered greatly since the sanctions came in.