Good morning,

As testament to how a day is a long time in politics, the seemingly calm waters of agreement on fishing rights were once again disturbed, as reports emerged that – once again – French negotiators were insisting on rights more or less equal to what they enjoy now. As mentioned before, the highly divisive issue of fishing catches is seen as a byword for the talks overall chances of success, despite the issue meaning relatively little in terms of economics to both the UK and France. Another cause of market anxiety is the news that business on both sides of The Channel are pressuring their respective Governments for no-deal plans as the clock slowly winds down on the time left to negotiate.

Aside from the continued inching towards and away from a trade deal, today is a relatively quiet day on the data front across the board, meaning headlines will likely cause the most movement – vaccine news, Covid-19 cases and lockdown extensions chief amongst them to look out for.

On the rates, sterling pushed to an impressive 1.33 against the USD, before shrinking back again. Versus the Euro, the more Brexit-volatile pair, the pound held above 1.1150 where it continues to do so as of market open this morning.

Have a great day.

Author: Josh Haden-Jones, Senior Relationship Manager

Whilst every effort is made to ensure the information published here is accurate, you should confirm the latest exchange rates with WorldFirst prior to making a decision. The information published is general in nature only and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available here.

References

https://www.the-sun.com/news/1824269/brexit-news-latest-eu-no-deal-trade-deadline-live/

https://www.thetimes.co.uk/article/brexit-eu-leaders-press-for-own-no-deal-plans-lndvzpzft