020 7898 0500It was a mixed day for sterling as it slid against the euro but managed to make some slight gains against the US dollar. The weakening against the single currency was largely down to market relief over the situation in Spain, as the announcement that Catalonia’s quest for independence would be put on hold for now.
Otherwise, it was a pretty quiet day for the UK all told. The boss of Cobra beer did express concern over what Brexit might mean for his business, in terms of importing and exporting in the eurozone. He stressed the importance of the UK securing a deal with Europe over the terms of withdrawal which could put pressure on Theresa May to find a solution to the ongoing problem of negotiating with her European counterparts.
It is a quiet day today although the Bank of England’s Andy Haldane is due to give a speech at 2pm. It will be watched closely for any indications on whether UK interest rates are likely to rise next month. Hawkish sentiment could see sterling strengthen.
