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The week began with the start of the much anticipated Brexit negotiations between the UK and the EU. Naturally, nobody anticipated much of significance being ironed out on day one.
There were interest rate announcements from both the Federal Reserve and Bank of England this week.
The UK emerged to a hung parliament this morning after Prime Minister Theresa May’s snap General Election gamble spectacularly backfired and the Conservatives fell short of the 326 seats required for a majority government. May had hoped to strengthen her hand in Brexit negotiations by increasing her parliamentary majority, and seven weeks ago this seemed all but assured.
Focus switched back to the UK this week as markets digested the possibility of a hung parliament, and fresh data hinted that the health of the economy may be deteriorating.