Despite experiencing a brief uplift, the pound weakened yesterday afternoon and is still under pressure this morning as Brexit talks between the UK and EU ended a day early. The first round of ‘intensified’ talks began this week and are scheduled to continue throughout July. However, they ended early due to ongoing differences between the two sides.
Both David Frost, the UK’s lead negotiator, and Michel Barnier, chief negotiator for the EU, have confirmed that sticking points remain on both sides of the fence. However, it’s been said that the face-to-face nature of the talks are providing more ‘flexibility’, which could help to resolve these issues.
Services PMI data is expected to come in for the UK today, showing how the Service sector fared in June. The figure is predicted to show an improvement from the last reading, but it is thought that it will remain in contraction territory.
