26/10/2016 (12:24pm) – A beat on the UK mortgage approvals data strengthened the upside in sterling following Mark Carney’s comments yesterday. This follows cable reaching its flash crash lows at the 1.2080 handle. The dollar index has fallen 0.1% today, extending losses from its 7 month peak reached yesterday. Aussie has seen gains of 0.6 percent against the US dollar in response to better than expected CPI figures. Following this data, the likelihood of an Australian rate cut by the 3^rd quarter of 2017 has fallen from 37 to 27 percent. Oil continues to sell off following Russia’s apparent disapproval of an output cut. The DAX has experienced accelerated losses this morning following lower than expected consumer confidence data. Losses in the equity space as a whole have come about due to weak earnings data. Apple has led this sentiment with its Christmas period forecast disappointing investors.