Morning Update – Happy Columbus Day

Morning all

I hope you’re well and enjoyed the weekend. Columbus day for the US so they’ve been nice and quiet today…

GBP

GBP fell today as traders re-assessed the chances of a breakthrough in Brexit negotiations after the encouraging headlines seen in recent days. I will go into it more in the EUR section below but GBP has reacted fairly positively and has appeared to hold the gains over the weekend. Many strategists remain optimistic for GBP should the UK make more progress towards a Brexit deal.

EUR

EU negotiators on Friday an agreement with Britain was “very close” and European Commission President Jean-Claude Juncker said on Saturday a deal would be reached in November, if not this month. If that’s the case expect all eyes on the EU itself and the underlying issues with their economy. Further EUR weakness?

Calendar kicks off across the board on Thursday, have a good day

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