The pound is still drifting at around a six-month low this morning against the dollar, and is down against the euro. Fears about Brexit are still weighing it down, with both contenders for Conservative Party leadership accused of having untenable plans for the short Brexit deadline.
Euro is up this morning, but concerns still remain over a long-term economic slowdown. Various meetings and reports over the last two days have seen European political leaders urged to stimulate their countries’ spending and growth to support the single currency area. In a vote of confidence, however, Croatia has formally submitted its application to join ERM-2, with the eventual aim of adopting the euro by 2022 at the earliest.
The dollar is strong this morning, but trade war tensions continue, with new tariffs announced on Chinese and Mexican goods.
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