The pound is down this morning amid uncertainty around Brexit. David Frost will meet officials in Brussels today to discuss solutions to the Irish border issue, after the G7 summit seemed to promise more willingness from France and Germany to make changes. Ireland’s Deputy PM has also started a tour of European capitals to argue the importance of the backstop, so it remains to be seen if talks will go anywhere.
European Central Bank Vice-President de Guindos spoke in Manchester yesterday, seeming to take a more cautious stance on future stimulus packages, warning against the ‘echo chamber’ of the markets.
It wasn’t a fantastic day for the dollar yesterday, with Beijing and Washington still at loggerheads over trade disputes. Warning signs are coming out of the US bond market, with an inverted yield curve raising fears of a future recession.
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