Brexit negotiations restarted last week and are set to resume in Brussels today

Beginning with the US and the US Dollar remains under pressure, extending its recent turnaround, this comes as President Trump, in a Reuters interview, suggested the Fed should be helping him more and disagreed with further rate increases. We will hear from Fed Chair Powell on Friday. The President also suggested that it is unlikely there is much headway in trade negotiations with China.

Back in Europe, Brexit negotiations restarted last week and are set to resume in Brussels today. The EU’s Chief Negotiator Barnier and the UK’s Brexit Secretary Raab are scheduled to meet this afternoon. The need for progress is becoming increasingly urgent, with some key autumn deadlines fast approaching. According to the BBC, the UK will publish the first of a series of technical notices on Thursday to prepare for the possibility of a ‘no deal’.

Analysts are warning that the GBP/EUR exchange rate could come under renewed pressure during the days ahead. The number of government ministers making announcements on the perceived dangers of a so called "no deal Brexit" has risen sharply during recent weeks.

Now, with negotiators from the UK and EU set to update the market Today, there is scope for more warnings about the supposedly-rising possibility of a "cliff edge Brexit" to further dent the Pound this week. On the flip side any sign of progress or concessions on either side should raise the possibility.

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