The government is expected to reveal a detailed plan for Brexit within the next 24 hours, which is set to provide an alternative to the original Irish backstop plan.
It was a mixed day yesterday for politics and the economy alike, but the pound ended it up against the euro. Year-on-year GDP figures showed continued growth, although quarterly figures weren’t so positive. Jeremy Corbyn has said he will not yet table a no-confidence motion, instead waiting for a moment when a win seems most likely.
Mario Draghi has called for further integration among the euro area, amid an atmosphere of gloom over the single currency zone’s short-term economic prospects. Rumours have also begun that the EU is considering a more aggressive stance in response to US tariffs to be imposed in October. US-China trade tensions have kept the dollar down, with pressure building before talks resume next week. Data releases and a number of speeches from Fed officials will be closely watched tomorrow for any hints of rate movements in the coming months.
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