Private DCN Private DCN - Sterling

GBP: pound weighed down by Brexit request

By Michael Cooper December 29th, 2016

Due to the holiday season, there have hardly been any data releases in the UK. However, reports that pro-leave activists have written to business leaders across the EU to push for ‘sensible’ actions when dealing with the UK’s exit from the EU highlights the delicacy of the situation. As a result, Sterling weakened significantly.

Yesterday, the British Bankers’ Association released data showing that mortgage approvals were lower than expected last month. Today will see house price data released by Nationwide – both of these are minor data releases for the markets.