Sterling rebounds in early trade
Despite the controversy surrounding George Osmond's comments about the UK currency, we saw Sterling rebounds in early trade after a heavy fall over the last few days. This has taken some of the heat off George Osborne and while his comments were factual they may not have been of help to the UK economy at this moment in time.
As we suggested yesterday, there appears to be a growing band of Tory supporters who seem determined to oust George Osborne with the likes of David Davies suggested as a possible replacement. It will be interesting to see if Tory infighting comes back to haunt them after many months of trying to shake off this tag. The main problem with George Osborne seems to be the fact that in the good times he was at the head of the party but in the bad times, when surely the Tory party must be expecting to make more ground, he appears to have been left wanting somewhat.
While there is speculation that the Labour Party vote will start to drift back over the next few weeks there is also concern that the Tory party disagreements may well scupper their chances of winning the next election.
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