Sterling Falls To Two-Week Low

GBP

The Pound struggled again yesterday, touching a two-week low as investors waited for parliament’s next step to break the Brexit impasse and as opposition leaders gathered to discuss tactics. The European Union’s Brexit negotiator, Michel Barnier, said Britain had yet to provide “legal and operational” proposals for an agreement on exiting the bloc.

British opposition Labour leader Jeremy Corbyn will meet other opposition leaders later, as they discuss how to stop Johnson from quitting the EU on October 31st without a deal if he fails to secure an agreement with Brussels by October 19th.

USD

The dollar edged lower against the euro on Thursday, giving up some of the sizeable gains from the previous session, as the common currency recovered a little amid an increasingly bleak euro zone economic outlook.

Increased political tensions on both sides of the Atlantic – an unfolding effort by U.S. congressional Democrats to impeach President Donald Trump and ongoing uncertainty linked to Britain’s divorce from the European Union – was, however, likely to keep the greenback in demand.

Key Announcements

14:30 – EUR: ECB President Draghi Speaks
14:45 – GBP: BOE Gov Carney Speaks

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