020 7898 0500It was a tough day for the pound yesterday as it weakened sharply against the euro and dollar following the weekend’s events which showed many Tory MPs have no confidence in Theresa May. Although her position is not currently seen to be under threat in the near future, it has worried the markets as Brexit negotiations are proving difficult enough as it is, without the added complications of an unstable government.
David Davis spoke to the House yesterday and said that the final Brexit deal will take the form of act of parliament. Meanwhile, Boris Johnson apologised for his comments about Nazanin Zaghari-Ratcliffe, where he had suggested she was in Iran training journalists. Downing Street confirmed they would be considering the jailed Briton’s husband’s proposal to give his wife diplomatic protection.
This morning we will see the inflation reading for the UK. It rose to 3% in September from 2.9% and is expected to increase further to 3.1%.
