GBP/EUR + EUR/GBP Weekly Market Report and Forecast. Time running out for PM May to get a deal done in November.
Yesterday’s UK Cabinet meeting discussed Brexit negotiations, with the focus on options to resolve the Irish border puzzle without the risk of keeping the UK in the EU customs union permanently or the risk of Northern Ireland staying in the customs union without the rest of the UK. Reports suggest that the Cabinet may meet again on the matter later this week
Two weeks of strategic silence on the progress of Brexit talks appears set to end on Tuesday, amid signs U.K. and European Union negotiators are finally coming close to breaking the deadlock. Prime Minister Theresa May’s Cabinet will discuss Brexit on Tuesday as mentioned above. There were suggestions this weekend by members of her Conservative Party that she’s preparing to give ministers an ultimatum to back a draft deal. Her spokesman, though, played down a Sunday Times report that an agreement with the EU was done.
After an unjust sell off in Sterling exchange rates on Tuesday, Sterling stages a modest recovery ahead of the BoE meeting tomorrow afternoon.
Are you doing a GBP/EUR exchange this week then make sure you read our report and get in contact with your broker who will guide you on the best time to exchange.