The pound is strong against the dollar and the euro this morning, after performing well against both currencies throughout August.
David Frost and Michel Barnier will hold informal Brexit talks in London today in an attempt to revive negotiations. Reports that Michel Barnier has refused to open the debate on fisheries perhaps doesn’t bode well. The markets will be looking for any signs of positive Brexit news as the timetable of negotiations continues, before coming to a close in early October.
Headlines over the weekend suggest that the government may introduce tax hikes to pay for the cost of the pandemic. Reports claim that taxes could be raised by £20 billion in the next Budget.
Today, Manufacturing PMI data will be released for August, which is expected to show a slight improvement.
