Today we are taking a look at:
- Sterling falls to weakest level since 1985, trade-weighted sterling is competitive, but 5-year CDS spread is still elevated
- USDZAR sharply weaker on the back of a strong dollar in the local session; sterling and yen weak, euro strengthen after ECB taper headlines
- Top 40 rises 0.81%, led by industrials and financials; global equities mixed – US sharply lower, while Asia upbeat this morning
- Eurozone PPI remains in deflation, but improves in August; IMF revises global growth forecast lower in latest WEO
