The pound strengthened yesterday as Boris Johnson announced his proposals for Brexit, with plans for Northern Ireland remaining in the single market for goods, but leaving the customs union. However, sterling is weaker this morning. The government’s hope is to secure the EU27’s agreement in ten days of negotiation before the 17th October summit.
Parliament is to be prorogued from Tuesday 8th, with Queen’s Speech on the 14th.
In the latest turn of EU-US relations, America has announced tariffs on $7.5 billion of EU goods. The EU has been said to be considering stronger responses, so there could be a lot of uncertainty ahead.
Poor manufacturing figures weighed down on the dollar, as well as lower-than-expected payrolls. Today will see a number of further data releases for the US, which will be closely watched.
We’re in a busy, volatile few weeks for politics, so don’t leave your money open to the risk of sudden market changes. Secure today’s exchange rate for the next twelve months with a forward contract, at no extra cost. Speak to your Personal Trader on 020 7898 0541.
