The pound strengthened against the euro and the dollar yesterday and is still strong this morning. This comes after German Chancellor, Angela Merkel, commented on Brexit trade negotiations and urged negotiators to “put all of our efforts into the last step”. She also said that some EU members are getting “a little impatient”.
There are still hopes that a trade deal can be secured before the 31 December deadline, despite sticking points needing to be resolved.
Bank of England official, Silvia Teneryo, said yesterday that a significant economic boost is only likely after the COVID-19 vaccine has been rolled out nationwide. She also reiterated her view that cutting interest rates could help the UK economy.
