GBP/USD surrenders intraday gains. Economists at ING see the pair at risk of falling to the 1.17-1.16 area in the coming days.

TV debate for Tory candidates

“It will be interesting to see the first TV debate between the remaining five candidates in the Tory leadership contest today, mainly to start gauging what positions on policy and Brexit can be associated with each contender.”

“Cable looks at risk of moving to 1.1600-1.1700 in the coming days on the back of USD strength, while EUR/GBP may keep hovering in the 0.8400-0.8500 area for longer – unless EUR-specific woes trigger another break lower.”