The pound has weakened this morning as the Prime Minister’s chief Brexit negotiator, Olly Robbins, travels to Brussels to discuss the possibility of changes to the political declaration. It has been a key demand of Labour negotiators that any deal agreed in cross-party talks should be reflected in the political declaration with the EU.
It is understood that Robbins will discuss how quickly changes could be made to the declaration if the Government and Labour come to an agreement. However, there is still uncertainty over the progress of these talks and calls from both sides to abandon them.
Sterling remained steady yesterday as uncertainty continues over whether cross-party talks are making progress. The pound also brushed aside a poll indicating that Nigel Farage’s Brexit Party are predicted to have more support in the upcoming European elections that the Conservatives.
UK Labour market figures are released today, which could have an effect on the pound.
