The pound is volatile against the euro this morning as it continues to react towards Brexit news. This comes due to news that the EU is hardening its stance towards fisheries and not planning to offer any concessions before the Prime Minister’s deadline of the 15th of October. It’s thought that France’s President Macron is sticking to his requirement that the French get the same access to British waters as they do now.
This could suggest that negotiations will run into November, as fisheries make up an integral part of the overall free trade deal.
The Construction PMI figure was released for the UK yesterday. It rose to 56.8 in September, up from 54.6 in the previous month and well above market expectations of 54.0. This reveals that there was a reacceleration in the rate of activity growth, boosted by home building and work on commercial projects.
