The pound is still well supported against the euro and the dollar this morning. EU Chief Negotiator, Michel Barnier, said yesterday that the EU are ready to discuss and finalise the legal texts for a Brexit deal and intensify negotiations. Michael Gove said he viewed this as “constructive”, however there has been confusion as to whether UK agree to this, as the Prime Minister’s spokesperson said that there must be a “fundamental change of approach from the EU”.
The pound had a muted reaction to the news that Wales will embark on a two-week lockdown, starting this Friday. Everyone, apart from key workers, must stay at home in the hope that this will reduce COVID-19 cases there.
Bank of England official, Gertjan Vlieghe, is due to speak today, and could shed some light on the attitude towards negative interest rates.
