In respect to the Brexit concerns, analysts at Brown Brothers Harriman noted the news that US President Obama will visit the UK next month and that this may not be as helpful as the remaining camp may have hoped.
Key Quotes:
The US has called for the UK to stay in the EU. Foreign involvement plays to the Brexit camps fear of its loss of sovereignty.
London Mayor Johnson was an EU-skeptic and the only person his formal endorsement of Brexit surprised appears to be Prime Minister Cameron. Those that want to remain recovered.
Sterling fully recovered to trade near $1.4500 at the end of last week.
The departure of Ian Duncan Smith from the cabinet was another blow, but outside of the timing, Smith was also an EU-skeptic.
However, it shows the deepening fissures within the Tory Party.”
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