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Boris to reshuffle Cabinet next week

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
• February 6, 2020
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Boris Johnson is expected to reshuffle his Cabinet next Thursday or Friday in a move that could have a major impact on the upcoming UK-EU post Brexit negotiations.

This could be important for Sterling trades, who need to weigh up carefully whether the new ministers are likely to take a hard line or a softer line in the talks.

Sterling continued to suffer this morning as concerns about negotiations between Britain and the European Union for a post-Brexit trade deal rattled investors, while the dollar continued to strengthen.

The pound took a big drop yesterday, which some analysts said was due to a media report that indicated that the EU would look to re-write a major set of European financial regulations known as Mifid II.

The dollar surged across the board after better-than-expected employment data underlined the relative strength of the U.S. economy.