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Brexit talks going well

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• December 15, 2017
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BoE left interest rates unchanged and QE unchanged to yesterday at their meeting. From the 9 members, they all voted to keep things exactly as they are.

Theresa May has been assured at a summit in Brussels that sufficient progress has been made to allow Britain to move on to the next stage of leaving the union.

A day after she suffered a defeat in parliament over her blueprint for quitting the EU, May told her peers that she was on course to deliver Brexit and urged them to speed up the talks to unravel more than 40 years of membership.

After updating her peers on progress, and telling them that Britain’s departure was “in the best interests of the UK and the European Union”, they offered her a brief round of applause.

As she left to return to London — she will not join the other 27 leaders for further discussions on Brexit and the eurozone — May said she was eager to move on, once her peers give the formal green light to trade talks later today.

This is positive for the value of the pound as it seems talks are now on track for the UK to leave the single market.

With no UK economic data today, we do not expect much movement. The only potential market mover is if the EU say they are not satisfied or ready to move onto the next stage of talks.