The pound weakened against the euro and the dollar overnight but has found some support this morning. Brexit, COVID-19 and news about the UK economy continue to impact sterling’s movements.
The EU summit will take place next week, which is the current deadline for the EU and the UK to agree on a trade deal. So far, progress looks uncertain and whilst the government has said that talks are in the ‘final stage’, gaps remain on key issues, such as fishing rights.
In an unexpected turn of events, the Prime Minister’s chief advisor and the creator of the Vote Leave campaign, Dominic Cummings, announced his resignation last night. Boris Johnson’s aide and former Vote Leave official, Lee Cain, has also resigned.
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