Muted optimism for a potential Brexit deal helped to strengthen the pound to its highest level since July at the end of last week, as reports emerged that the DUP might be more willing to compromise on border issues, and Angela Merkel told reporters that there was ‘every chance’ of a last-minute deal. Boris Johnson will travel to Luxembourg today to meet with both Jean-Claude Juncker and Michel Barnier.
Last week’s ECB meeting results were not unexpected, with an interest rate cut and stimulus package announced from 1st November. Although we saw a brief dip in the euro, it soon recovered.
It was a mixed end to the week in the US, as retail figures showed a mixed outcome. Data this week will be closely watched for any further signs of the health of the American economy.
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