The Pound steadies

Hi everyone,

Yesterday saw Sterling hit extraordinary levels of £-€1.0890 & £-$1.2120. Nearly 3% wiped out in a week. 

Data-houses have priced in a no-deal chance at 40% now, up 20% just a month ago. The consensus is still for a 'soft' Brexit, but the concerning thing is what the EU does next. If they do not agree to negotiate the withdrawal agreement, it seems we have a stalemate and the Pounds fate sealed. 

The US could cut interest rates later today and usually this provides an instant negative shift. However it may do little to effect the $, due to the US economy outperforming the rest of the world.

Tomorrow sees the BoE rate decision which is expected to remain unchanged, but as always it's the meeting after that will shape the remainder of the week for Sterling.

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