The two most significant development yesterday were a 1.0% surge in the Euro (Euro now fetches 1.1110 – the highest since November 9 2016), and continued weakness in the US Dollar with the DXY down 0.7% yesterday and another 0.3% overnight and at its lowest point since just after the US the election. Overnight the continued political fall-out from US President Trump’s sacking of FBI Director Comey has led to a large fall in the US Equity Futures Market. The big secular theme over the past couple of months has been long Europe. European data continues to be broadly positive, reinforced yesterday with the German ZEW Index rising to 20.6 from 19.5 and the Trade Balance coming in better than expected with the surplus rising to €23.1bn from €18.8bn. Those prints also likely helped set the tone for the Euro’s rise, but it is important to note this is part of a trend that emerged following the first round of the French presidential election.