020 7898 0500Sterling weakened against the US dollar and euro yesterday following comments made by Michel Barnier. It appears there will be no special arrangement for London and banks and financial firms won’t be able to trade freely with the EU. It really does seem as if it is one step forward, three steps back at times and one wonders when the uncertainty will end.
Otherwise it was an extremely quiet day for the UK with no major releases. It is a pretty quiet day today too, but tomorrow we will see the public sector net borrowing for November and then we end the last week before Christmas with the Gross Domestic Product growth rate for the third quarter of 2017.
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