The pound has risen slightly against both the euro and the dollar this morning, possibly benefitting from their weakness. It also had a boost early this morning from consumer confidence, which, although in the negative, did come in better than expected.
Prime Minister Boris Johnson is holding talks with the five main Stormont parties this morning. He said, “I expect Brexit may come up but it’s crucial that I attach huge importance to the spirit of the Good Friday agreement.”
When asked to comment on the pound’s dramatic fall yesterday, Johnson stated that the government does not comment on the level of the pound. Despite the negative effects on sterling, he refused to back down over his threat to take the UK out of the EU, and warned that he wouldn’t resume talks with the EU until the backstop is scrapped.
Tomorrow, focus will turn to the Bank of England’s rate announcement. It’s unlikely that any rate cut will be announced, but there could be some interesting comments about the future impact of a no-deal Brexit.
