The pound is still fairly strong against both the euro and dollar this morning, ahead of a potentially volatile week. Brexit talks resume tomorrow between the UK and the EU in Brussels with a briefing to report on progress taking place this Friday. Whilst no major breakthroughs are expected this week, any positive or negative rhetoric could affect the pound.
Irish Prime Minister, Micheál Martin, said last week that he did not want to a “no deal” economic shock to occur, especially in the midst of the coronavirus crisis.
It’s also a busy week of data for the UK this week, with inflation rate figures on Wednesday and Consumer Confidence, retail sales and PMI data on Friday. The PMI data for August will be compared to the same data for the EU and US, also due on Friday. It should give a good indication of how economies are recovering.
