The pound is strong against the euro and the dollar this morning ahead of the EU summit, which is due to take place on Thursday. At the summit, member states will consider the state of Brexit negotiations and agreements made so far. This could be a clear indicator as to whether a Brexit deal is achievable before the end of the transition period.
The EU’s Chief Negotiator, Michel Barnier, recently said that October 31 is the “realistic deadline” for a deal to be achieved. Sticking points, such as issues surrounding fisheries and state aid, remain. Talks will continue this week and possibly until the end of the month, if the Prime Minister is persuaded that EU member states are willing to accept a deal.
An announcement on further COVID-19 restrictions in England is due to take place this evening. This comes as infection rates are rising. A new, ‘three tier’ system is expected to be put in place.
This week is light on data for the UK, but average earnings and unemployment figures will be released tomorrow.
