Sterling edged lower, shrugging off data showing U.K. retail sales rebounded by 2.9% in May and ING sees scope for the currency to fall toward $1.25 as an August BOE rate cut looks increasingly possible.
Investors seem to be taking comfort from Marine Le Pen’s recent interview as some speculate that buying French government bonds at the height of political uncertainty could pay off again, Commerzbank Research said.
A rapprochement between French Jews and the far right is helping push the National Rally party to the doorstep of power, with the party on track to win the most seats in France’s parliamentary elections.
