020 7898 0500On a day when the IMF issued a warning on the economic impacts of a no deal, the EU issued its own warning to its citizens. The European Commission published a 16-page document which urged the remaining 27 member states to step up their preparations for a scenario in which the UK would exit the EU without securing a deal.
The document was published just hours before the new Brexit secretary, Dominic Raab, was scheduled to arrive in Brussels for his first meeting with the EU’s chief negotiator, Michel Barnier. A spokesman for the EC denied that the two events were connected, but it could give Raab some food for thought.
There were no major economic data releases from the eurozone yesterday, but the euro managed to make some gains against the pound following poor UK retail sales data, but it weakened against the dollar, which received a boost from extremely positive employment data.
