The pound is volatile this morning, though still in a strong position against the euro and the dollar. There have been reports of progress in Brexit talks with the ‘level playing field’, which has been a sticking point since talks began. This is a dispute over whether the UK should align itself to the EU’s competition rules.
The other major sticking point that needs resolving is fishing rights. The EU’s Chief Negotiator, Michel Barnier, said that a deal could be possible soon if the UK were to go back on some of their demands surrounding fisheries. This topic has been the focus of media attention in recent days.
Data released this morning reveals that the unemployment rate in the UK increased to 4.9% in the three months to October, compared to 4.8% in the previous period and 3.8% a year earlier. This is the highest jobless rate since 2016.
