French budget minister Darmanin out in Les Echos 15 Nov
- dept being cautious, could have raised it to 1.8%
- all is done for budget deficit to be brought back below 3% threshold at 2.9%
- expects higher VAT revenue for 2017, additional EUR 1bln
- planned exceptional tax on large companies is the lesser evil to help balance the budget, rather than higher taxes generally
Meanwhile EURUSD still perky but tightly bound at 1.1793. EURGBP failed at 0.8980 and now 0.8962 near session lows and helping to underpin cable. Expect offers/res around 1.13160 then 1.3180-00.
UK wages/jobs in focus for GBP traders at 09.30 GMT
Update: EURGBP having another shove down and lifting GBPUSD to 1.3165