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FX and commodities update: GBP/USD is down 29 pips at $1.5545, EUR/USD is up 11 pips at $1.3379 and USD/JPY is down 44 pips at ¥98.08. Oil - Brent Crude is 31 cents higher at $110.98 and gold is trading $2 lower at $1402.
This morning in London: The FTSE 100 is down seven points at 6485.
The day ahead: With a quiet schedule in the UK after the bank holiday weekend, attention will be on the US, where the Case-Shiller home price index is due at 2pm, followed at 3pm by consumer confidence and the Richmond manufacturing index (all London times).