Except as far as the European Commission was engaged in a slightly acrimonious spat with the UK government, the euro did a decent job of keeping its head down.  Euroland inflation was a shade softer at a provisional 1.2%.  Business and consumer confidence remained solid.  The manufacturing purchasing managers' index showed the sector to be a little more dynamic than forecast.  Two European Central Bank honchos Mario Draghi and Jens Weidmann - said in their different ways that there is no rush to loosen monetary policy with higher interest rates.  The euro toddled along in the middle of the bunch, losing a quarter of a US cent and taking a cent off sterling.

For sterling the B-word was a recurrent issue.  Theresa May instantly rejected the draft withdrawal proposal put forward by the EC and two ex-prime-ministers - Major and Blair – who spoke out in favour of scrapping the whole thing.  Mrs May will offer her own vision on Friday.