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Brexit talks look optimistic for the pound

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• November 22, 2017
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Theresa May met with senior members of her ministerial team on Monday amid expectations that she will offer the European Union more than she committed to during a speech in Florence in September that failed to provide a breakthrough in the stalled negotiations.

Media reports said ministers had agreed to make a financial offer that would increase May’s existing commitment, though there were differing accounts, which investors said was keeping a lid on any gains for the British currency.

The Independent news website said May’s opening offer could double to around 40 billion euros but it gave no details, while the BBC reported that no specific amounts had been discussed during the meeting.

Our sources are suggesting that the UK and Europe will agree to a trade deal within the next 3 weeks, this will be positive for the pound.

We have the budget at 12:30 today – I will send an update this afternoon on the key points.