The pound finished the week in a strong position against the euro and the dollar after MPs voted to back the Prime Minister’s Withdrawal Bill, and sterling is still strong this morning. They voted 358 to 324, meaning that the bill received a majority of 124. MPs also backed the timetable to debate the bill further at the beginning of January.
Amendments to the bill include a non-negotiable deadline to the Brexit transition period and giving British judges new powers to overturn the rulings of the European Court of Justice.
UK GDP data was released on Friday, showing an expansion of 1.1% year-on-year and revised slightly higher to 0.4% quarter-on-quarter. Figures from the Office for National Statistics confirmed that there has been no growth in business investment during the third quarter of this year.
