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  • From the FT in London, here's the latest on markets.

  • Sterling is in a sticky spot sinking briefly under $1.22 amid a nasty mix of factors

  • including today's House of Lords debate on the Brexit process, and softer-than-expected UK house price gains.

  • In addition, retail sales data provided signs of stress for the so-far resilient UK consumer,

  • with non-food retail sales dipping for the first time since 2011.

  • That all comes just as the dollar was on the up, boasted by increasingly firm expectations that the US will raise interest rates again as soon as this month.

  • All in all, it's a bad mix.

  • On the plus side, this could deliver a boost to UK stocks, which tend to benefit from a weaker currency.

  • Meanwhile, currency reserves across some of Europe's smaller and more recent markets are in focus.

  • Switzerland Central Bank said today that its foreign currency reserve have hit a new record.

  • A sign that it's slurping up Euros, to try and keep the Frank in check.

  • The Danes also reported a pickup in reserves last week, while also today, the Czechs reported a rapid accumulation.

  • Pressure on its limit on the currency is set to crank up sharply in the coming months.

From the FT in London, here's the latest on markets.

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Sterling sinks while dollar rises | Market Minute

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