The euro is weaker against the pound this morning, after German factory orders came in nearly two percentage points lower than expected. Nonetheless, it is still low as Brexit fears continue to weigh, and EC presidential nominee Ursula von der Leyen confirmed last night that she would have no intention of removing or negotiating the Irish backstop. The strong Europhile and federalist’s nomination only increases fears that negotiations will not progress, and no deal will become more likely.
The dollar is looking stronger this morning, as the markets await non-farm payroll data. The expectations is that these will drop, but this has likely already been priced in. Unemployment figures will also be released, expected to remain the same as last month.
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