The pound remains in a weak position against the euro and the dollar this morning as Brexit and the economy put pressure on sterling. Economic worries have been fuelled following the announcement of further coronavirus restrictions in the UK yesterday, which could be in place for 6 months. The Prime Minister also warned that further restrictions could be implemented if necessary.
Concerns over Brexit negotiations are also weighing on the pound. The ninth round will begin next week, with the timetable officially ending at the beginning of October. The UK and EU Chief Negotiators David Frost and Michel Barnier are meeting in London today to make progress on a deal before formal negotiations resume next week.
This morning, PMI data will be released for the UK, which will reveal how the services and manufacturing sectors have been performing in September. Growth is predicted in both areas.
