Sterling held on to its gains for most of the day on Friday, before weakening slightly in the afternoon. Despite this, sterling is still strong today, benefiting from the decreasing possibility of a no-deal Brexit.
Nigel Farage called on Boris Johnson to “build a Leave alliance.” Speaking at the Brexit Party’s election campaign launch, he called on Johnson to drop his Brexit deal and form an alliance or face opposition from Brexit Party candidates in every seat. However, the Conservatives have consistently ruled out a formal pact with the party.
Manufacturing PMI for the UK rose to 49.6 in October, coming in at its highest level since April and beating market expectations of 48.1. However, the figure is still in contraction territory, as output and new orders fell amid ongoing uncertainty surrounding Brexit.
The House of Commons will vote for a new Speaker today. Eight candidates will make there speeches this afternoon, after which MPs will vote in a secret ballot. Candidates include former deputy Labour leader Harriet Harman and assistant Speaker Sir Lindsay Hoyle.
This week, Parliament will be dissolved to make way for five weeks of campaigning for the upcoming general election. On Thursday, the Bank of England will announce their decision on interest rates.
