020 7898 0500The pound fell to another fresh low following continuing Brexit fears. Comments made by Fox over the weekend suggested that it was now more likely than not that the UK would be exiting the EU without securing a deal. While the government was quick to assure the public that it will work on securing a deal, investors were clearly spooked, as the pound hit its lowest mark against the dollar since September 2017.
Sterling didn’t fare too well against the euro either, despite economic data from the eurozone being extremely disappointing. One thing is clear: until investors know what is going to happen when the UK leaves the EU, the pound is going to be subject to periods of volatility. Much appears to hinge on whether the UK secures a deal, where before it appeared to hinge on the type of deal.
Today we have the Halifax house price index. Year-on-year, prices are expected to have increased by 2.6% in the three months to July.
