GBP finding a few buyers after early losses 21 June
Perhaps a bit of justifiable caution we wait to hear what PM May and her minority government have to offer in the Queen's Speech due to start at 10.30 GMT
Expect a diluted version, but heavily Brexit focussed, as they try to conclude a deal with the DUP. The centrepiece of today's speech will be the Great Repeal Bill to transpose EU law onto the UK's statute book.
The whole event today will be toned down from the normal highly ceremonial affair in respect to the awful recent events still reverberating around the UK as well as lack of resources following the highly ceremonial Trooping of the Colour seen at the w-e.
Also being toned down, thankfully, will be the rhetoric. A statement issued ahead of the event says:
"This is a Government with purpose. Determined to deliver the best Brexit deal. Intent on building a stronger economy and a fairer society. Committed to keeping our country safe, enhancing our standing in the wider world and bringing our United Kingdom closer together.
"Putting ourselves at the service of millions of ordinary working people for whom we will work every day in the national interest"
Debate and voting on the Queens Speech normally takes about 5 days so May will need to get them on board soon in order to avoid being voted down next week.
Watch the event live here
GBPUSD now 1.2626 again from 1.2689 lows as EURGBP runs into the decent offers/res at 0.8850 that I highlighted in earlier posts and currently 0.8826
UK Parliament resumes trading today.