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
After an unjust sell off in Sterling exchange rates on Tuesday, Sterling stages a modest recovery ahead of the BoE meeting tomorrow afternoon.
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Overnight night UK PM May ruled out another election and said that a ‘no deal’ would be preferable to a Canada-style free trade agreement. She is due to speak today at the Bloomberg Global Business Forum in New York. The Labour Party conference concludes today, having indicated it would push for a second referendum if there is no election. Party leader Corbyn is due to make a speech.