The pound is still weak this morning as it continues to suffer from uncertainty in Parliament and fears of a no-deal Brexit. It did get a boost yesterday, however, on the back of stronger retail sales figures and a vote which may help mitigate the chances of a no-deal.
Retail sales figures beat market forecasts and averted fears of a slump in consumer spending. Most of the increase in sales came from second hand goods, and the high street is evidently relying on discounted products to make sales.
MPs voted for a proposal which will make it very difficult for the new Prime Minister to suspend Parliament in order to push a no-deal Brexit through. It will be interesting to see how Boris Johnson reacts to this, as the vote will effectively stop him from being able to bypass Parliament in the lead up to October 31st. This caused the pound to strengthen, however it has dropped again this morning.
