Sterling has lost some ground against the euro and the dollar this morning due to trade negotiation headlines, however, it still remains close to pivotal levels. French Foreign Minister Jean-Yves Le Drian said that the two sides would “rip each other apart” as they strove for advantage in the negotiations. He also said it would be tough for the UK to achieve its aim of agreeing a free trade deal by the end of the year.
Yesterday evening, chief Brexit negotiator, David Frost, gave more details of the UK’s negotiating stance in Brussels yesterday. Frost said the UK’s position is that the deal cannot include any regulatory alignment, any jurisdiction for the Court of Justice of the European Union over the UK’s laws, or any supranational control in any area.
This morning, UK Unemployment Rate data will be released for December. It’s expected to stay the same at 3.8%, whilst Average Earnings are expected to have decreased slightly.
