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Another strong week for Sterling as Brexit optimism ramps up once again after the EU and U.K. finalize a new withdrawal deal.
United Kingdom Headlines and Economic data
Monday:
- BoE’s Cunliffe moots more bank capital firepower for downturns
- Unveiling UK government plan, Queen Elizabeth says priority is to exit EU on October 31
- Still a lot of Brexit work to do, says UK PM Johnson’s spokesman
- Don’t rule out a BoE rate hike after a no-deal Brexit – Cunliffe
- BOE’s Ramsden reins in case for more accommodative policy
- Boris Johnson Uses Queen’s Speech to Set Out General Election Platform
Tuesday:
- EU, U.K. Seek Brexit Deal by Midnight Tuesday: Brexit Update – news reports that a deal was close was likely the catalyst for the spike higher in Sterling pairs during the London/U.S. trading overlap
- UK hiring falls by most in over four years as Brexit nears
- BoE’s Vlieghe sees lower rates if Brexit delayed again
- EU’s Barnier says Brexit deal still possible this week
- Brexit: DUP says ‘gaps remain’ after Johnson meeting
- ERG’s Baker says after Downing Street meeting: Not possible to say if we can back a deal until we see a legal text
Wednesday:
- Irish PM hints extra EU summit might be needed because ‘many issues’ still to be resolved
- PM will write letter to EU asking for Brexit delay if no deal by Saturday – the prospect of avoiding a no-deal Brexit with an extension was the likely catalyst for Sterling optimism on Wednesday.
- Falling petrol prices keep lid on UK inflation in September – ONS
-
The annual price change for a property in the UK was
1.3% in August - Britain struggles on two fronts to agree last-ditch Brexit deal
Thursday:
- Juncker says EU won’t back further extension
- Britain clinches Brexit deal, Johnson now faces parliament hurdle – another spike higher in Sterling pairs after the EU and U.K. announce that a Brexit deal has been made. The positive sentiment quickly turned, though, after reports that the DUP will reject the deal when it comes to Parliament vote.
Friday:
- SNP calls for Brexit extension and general election
- Mark Carney: Brexit deal will boost flagging global economy
- Boris Johnson’s Brexit deal is worse for the UK economy than Theresa May’s, research suggests
- Scottish court considers bid to stop ‘illegal’ Brexit deal
Saturday:
- Johnson asked EU leaders for a Brexit delay. He also told them not to grant it
- In London, hundreds of thousands demand another chance to vote on Brexit