The pound was stronger against the dollar yesterday, mostly due to dollar movements, and is still strong this morning. It was slightly weaker against the euro but is gaining some momentum this morning ahead of the resumption of Brexit talks, which begin today. It’s thought that the issue of whether London’s financial sector will be able to access the European Union’s market after Brexit will be in focus.
The PM’s spokesman said yesterday UK negotiators would “continue to plug the gaps” as negotiations enter their seventh round. The two sides also remain divided over competition rules, fishing rights and how a deal would be enforced.
The Bank of England’s Chief Economist, Andy Haldane, said at the weekend that strong consumer spending has already helped the UK economy get back as much as half of the losses caused by the pandemic. He also explained that he expects the economy to recover quickly in the second half of the year.
