The pound is slightly weaker against the euro this morning, but still well supported overall as Brexit news continues to have an impact. UK and EU talks appear to have reached a stalemate EU Chief Negotiator, Michel Barnier, saying that his side is ready to talk, but the UK has been less forthcoming. However, sterling is still strong on the expectation that negotiations will start again.
Reports have suggested that Michel Barnier will be in London tomorrow in an attempt to kickstart talks. There is still hopes of a ‘skinny’ deal being achieved in the next few weeks.
A series of economic data came in for the UK this morning, including inflation rate, which increased to 0.5% in September from a near 5-year low of 0.2% in August, matching market expectations. This lift is attributed largely to the Eat Out to Help Out scheme.
