The British pound was the biggest loser of the week, knocked down by increasing odds of a no-deal Brexit, and it’s likely that the rising cases of coronavirus infections in the U.K. brought pressure to Sterling as well.
United Kingdom Headlines and Economic data
Monday:
House prices in August 2020 were 5.2% higher than the same month a year earlier – Halifax HPI
Brexit chief Michel Barnier says he’s ‘worried’ about ‘difficult’ negotiations
Coronavirus spikes in Spain, France and U.K. raise specter of second wave
Tuesday:
BoE’s chief economist Andy Haldane warns against furlough extension
Brexit deal never made sense, Boris Johnson to tell EU
No-deal Brexit is the most likely outcome of trade talks, former EU chief says
Sterling’s weakness accelerated during the U.S. session, likely a reaction to the continued U.S. tech sector sell off, prompting traders to rotate from risk assets to safe havens/lower-yielding assets.
Wednesday:
U.K. Publishes Legislation That Breaches International Law
EU’s Michel calls on Britain to respect Brexit withdrawal treaty
EU says trust needed if talks with UK are to continue
Thursday:
UK house prices jump as buyers seek gardens after lockdown: RICS
Brexit: UK and EU set for emergency talks as tensions rise
UK’s post-Brexit plan puts trade deal with the EU — and the U.S. — at risk
Friday:
UK signs first major post-Brexit trade deal with Japan
UK economy extends recovery from COVID crash, growth seen fading
England brings in more local restrictions as COVID rate soars
The total trade balances increased by £35.8B to a surplus of £3.7B in the 12 months to July 2020.
UK Consumer inflation expectations for the coming year: +2.8%, down from 2.9% in May.