Today is the last major public step before Brexit trade negotiations begin, with the UK set to lay its mandate before Parliament, outlining its position. This is largely expected not to contain any surprises, with the main focus on a Canada-style trade deal.
The pound and euro had a choppy day yesterday, despite little in the way of data releases. Christine Lagarde, speaking yesterday afternoon, acknowledged the challenges of a manufacturing slowdown and coronavirus – with more confirmed cases in Northern Italy’s neighbouring countries – and called for further intervention from national governments to boost growth.
The dollar’s gains as a safe-haven currency, with investors moving away from riskier economies in Asia due to coronavirus, are tempered by concerns over the outbreak’s impact on the American economy.
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