As expected, remarks from both David Frost and Michel Barnier on the latest round of Brexit talks have confirmed that the two sides are still struggling to reach any kind of agreement. This has fuelled worries of a ‘no-deal’ scenario and has, therefore, weighed on the pound.
Today is a busy day for data, with European, UK and US PMI’s due. This data is expected to provide a significant insight into the health of these economies, so the markets will be looking closely at the results.
Both UK consumer confidence data and retail sales figures were released this morning, showing that the public has been spending more recently as businesses reopen. This is positive news for the economy, however, sales have still not completely recovered from the sharp falls in March and April.
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