The pound is stronger this morning against both the euro and the dollar. This comes after the promise of ‘intensified’ trade talks between the UK and EU, as well as a boost in the stock markets.
After high level talks between the UK and EU yesterday, leaders from both sides have said that ‘new momentum’ is needed to reach a compromise on Brexit. Prime Minister Boris Johnson said that there is a “very good” chance of getting a trade deal by December. It has been agreed that talks will intensify in July.
The EU also formally noted that the UK will not be asking for an extension to the Brexit transition period.
This morning, a series of data was released for the UK. It showed that the number of people claiming unemployment related benefits rose in May, whilst unemployment rate was 3.9% in the three months to April 2020.
