The pound was under pressure before Christmas, falling for five consecutive days due to Brexit worries and reduced liquidity. Many believe that a year isn’t long enough for the government to negotiate a trade deal with the EU and are worried about a hard deadline at the end of 2020, which could increase the possibility of a no-deal exit.
Both Boris Johnson and Jeremy Corbyn released their Christmas messages on Christmas eve. Both praised NHS staff who are working over the festive break. Mr Johnson acknowledged “Christians around the world who are facing persecution for their beliefs”, whilst Mr Corbyn thanked people working food banks and emergency shelters over Christmas.
Over Boxing Day and early trading this morning, however, the pound has fought back strongly, returning to its pre-Christmas highs.
