Michel Barnier lifts the British pound with his comments that a Brexit deal could be reached in the next 6 to 8 weeks. In regard to other UK news, today, the focus will be on the average earnings and unemployment. Also, trade wars take a pause, as negotiations continue.
The British Pound Gets a Boost
The British pound got a big boost yesterday from the EU’s chief negotiator Michel Barnier, who said that a Brexit deal could be reached in 6 to 8 weeks. It will be the middle of November when a deal could get signed off. In other words, Britain could avoid a no-deal Brexit that everyone was talking about in the past few weeks.
The EU is aware of the difficulties that Prime Minister Theresa May is facing back in UK from the Tory party, so the bloc is trying to help smooth the process as much as they can. This, of course, was picked up by the market and investors started moving into GBP.
UK will be releasing its unemployment and earnings figures during the European morning. The projection for the jobless rate is to have remained the same at 4.0% as previously. Average earnings including bonuses are expected to...
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