- GBP/EUR opened at 1.1305, traded a high of 1.1312, a low of 1.1252 and closed at 1.1284 yesterday representing a fall in the market just under 0.2%.
- GBP/USD fell by -0.47% after opening at 1.2804 and trading a low of 1.2725 before closing at 1.2743.
- US CB consumer confidence came in weaker than expected at 135.7 vs 136.2.
- Former defence secretary Sir Michael Fallon said Theresa May’s Brexit deal is ‘doomed’ and must be renegotiated.
- Lawyers acting on behalf of the EU have argued that Britain should not be able to cancel Brexit without the bloc’s consent in order to prevent political chaos engulfing the union (The Independent)
- According to Bloomberg, Theresa May has backed down in a key Brexit battle with Parliament, ditching moves to stop lawmakers trying to amend her plans.
- US President Donald Trump said he may cancel G20 talks with Putin of the Ukraine-Russia sea clash.
- Trump attacked Fed Chair Powell by saying he was ‘not even a little bit happy with Jay’.
- Australian construction work done q/q came in weaker than expected -2.8% vs 0.9%
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading at 1.7677, 1.8813 and 145.54.
- Philip Hammond has said that all forms of Brexit make the UK worse off but Theresa May’s plan is the best available.
- The treasury is due to publish is economic analysis on the long-term effects of Brexit on the UK. The Daily Telegraph are reporting that a no-deal scenario will cost the UK £150bn over 15 years compared to the status quo and May’s deal will cost the UK £40bn.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Prelim GDP q/q||3.6%||3.5%|
|16:30||GBP||Bank Stress Test Results|
|16:45||GBP||BOE Carney Speaks|