Despite spending £30bn, there were complaints yesterday – and not just from the Opposition – that the mini-Budget is not enough to stimulate the economy into a V-shaped recovery.
Nevertheless, sterling strengthened against USD and stayed firm against EUR. There are no significant data releases for the rest of the week, so Brexit may return as the largest determinant in the direction of sterling. The pound has strengthened on the back of more positive noises coming from the trade talks, but German chancellor Angela Merkel, taking over the Presidency of the EU, has warned this week that Europe must prepare for no deal.
