Reform
Britain’s newest party is now the top polling party at 26%, 1 point ahead of the Conservatives and 4 points ahead of Labour. This is big news and perhaps explains why even Conservatives with strong nerves are beginning to wonder if the fortunes of the Conservatives might best be joined with Reform rather than risk their share of the vote remaining static or worse still being eroded further by Reform.
GBP/USD 1.2437.
UK Supermarkets
Proof that posh people do indeed push: Waitrose rattled due to its UK market share falling below 4% while M&S is over 4%. So posh peoples’ supermarket Waitrose is responding by reinstating the free coffees to its 9 million loyalty scheme cardholders. No such fripperies for high street Sainsbury’s – they are withdrawing their offer of free coffee to their customers. Tough love.
EUR/GBP 0.8386.