It's a new day and the jury is still out 18 Jan

Well, for some anyhow. The ardent bulls and bears will both claim victory from yesterday's ( and subsequent) price action.

I had warned of the "sell rumour/buy fact" scenario and we duly got it. No claims of omnipotence from me though, just trying to highlight some reality checks through the over-hyped fog that we got going into the speech.

As it happens I thought May delivered it well. No "Iron Lady" tags as some of our more right-of-centre press might portray it but she did a decent job at giving some clarity to a hitherto "muddled" view.

However, yep you knew this was coming, I didn't see/hear anything that makes me change my view that the uncertainty will continue and it's the uncertainty that is undermining the pound.

Good data such as we saw in the UK jobs/data earlier is welcome but we're in the honeymoon period still with the stark reality yet to come and the lack of applause after this morning's report tells us that concerns remain.

So, try and see through the hype and bluster. Yes, I repeat that the UK will ultimately benefit from leaving the EU and the pound also, as per my voting inclinations but we're a long way off from that.

Sometimes it's good just to sit back and watch events/price action unfold. Despite loads of opportunity for the serious jobbers ( sadly I was too busy typing!) it's also good to look at it with a fresh pair of eyes.

Bears like me have had a decent run and there's no need to rush in and trade for the sake of trading. Will the pound go lower again ? Yes I still believe so. Is the market right to take a more considered view down at these levels? Of course.

I see nothing in yesterday's speech to have me rushing for the Buy button but hat's off to May for at least putting some intention into the equation and delivering it well. Politics is politics though and now, as we enter into a scary cyber-threatened 2017, it's even more important to see the wood from the trees.