After making a brief recovery, sterling weakened yesterday as Brexit talks, which took place in Brussels this week, have finished a day early. Both the UK and EU have said that ‘serious differences’ remain, although there has also been suggestion from the EU that there is more clarity between the two sides.
The US added a record number of jobs in June, according to the latest Non-Farm Payrolls report. Optimism over the US economy has caused the dollar to weaken. However, the latest data doesn’t account for the recent ‘rollback’ of lockdown restrictions due to increasing coronavirus cases.
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