The pound has had a weak start to the day after the Bank of England cut its growth forecasts yesterday. Although further plans are being announced to boost the economy after Brexit, including the creation of a number of free ports, it remains to be seen how concrete these proposals will be.
Better-than-expected manufacturing figures helped the euro recover from its low against the dollar yesterday, but this could be reversed depending on the contents of Donald Trump’s statement on EU trade at 17:45 GMT today.
Further pledges of tariffs on Chinese goods from the 1st of September have put downward pressure on the dollar, marking an end to the ‘truce’ of the G20 summit.
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