The pound faltered at the end of last week, and is low this morning as optimism for a Brexit deal fades. It was reported that the Prime Minister will ask for a Brexit extension if a deal isn’t reached by the 19th, however, Downing Street still say that they fully intend to leave the EU at the end of the month.
President Macron has said that at the end of this week, the EU will decide whether a Brexit deal can be reached. European officials have offered an underwhelming reaction to the PM’s new Brexit plan so far, with the Irish Deputy Prime Minister stating that further changes are needed, especially considering plans for the Irish border.
US Non-Farm Payrolls came in lower than expected at the end of last week. However, the unemployment figure for September was the lowest in 50 years, showing that the US economy is not entirely in the doldrums.
We’re in for yet more uncertainty as Brexit negotiations take place. Call your dedicated Personal Trader on 020 7898 0541 to lock in a forward contract.
