ECB President Draghi struck a dovish tone seeing the recent rise in headline inflation as transitory and remaining focused on the more subdued core inflation, remaining excess capacity and ongoing financial sector repair.
The UK press continues to view Brexit uncertainty as a glass half-empty, handwringing over the how the UK will cope without the comfort of the single market; in a typically British manner. As such we see scope for the mood to improve and confidence to build in the optimistic and inclusive open trade vision offered by UK PM May.
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