Eyes on early negotiations

Yesterday was a quiet day in the markets with no major movements after the surge in Sterling in the immediate aftermath of the Brexit announcement. With markets settled over the past 24 hours, all eyes are on the negotiations between the UK and Brussels to see what deals Theresa May will strike. The early priorities of securing the rights of EU citizens in the U.K. and Brits abroad are high on the agenda as there will no doubt be many keen watchers keeping a close eye on proceedings as any negative news or delay in securing these rights would surely cause tremors in the markets.

Over in the States, the unemployment rate came in above forecast, ensuring the gains made yesterday continued the relatively good week for Sterling. With no US data out today, it is unlikely to see the Dollar make any ground on both GBP and EUR before the end of today, despite its global safe haven appeal.

With UK Gross Domestic Product and Nationwide Housing prices yet to come out today and EUR retails sales, the markets can still change before the weekend starts. To keep up to date with the markets and on top of the rates get in touch with your CI account manager today.