The pound is still at strong levels against the dollar and is slightly weaker against the euro this morning. There are still hopes that a Brexit deal can be achieved by the 19th of November, despite key sticking points surrounding fisheries and the Level Playing Field remaining.
It’s unclear as to whether this will be a ‘skinny’ trade deal or not. Talks will resume on in London on Monday and there’s also talk of Boris Johnson and President of the European Commission, Ursula von der Leyen, making contact next week.
Chancellor Rishi Sunak announced an extension of the furlough scheme until March yesterday, continuing to pay 80% of wages up to £2,500 a month.
Construction PMI data for the UK was released yesterday, with the figure coming in at 53.1 in October, from 56.8 in the previous month and well below market expectations of 55.0. This was the slowest rate of expansion in the construction sector in five months, possibly due to local lockdowns due to the second wave of COVID-19.
