21/11/16 - Scottish and Welsh governments have say on Brexit

GBP

It was announced Friday that the  Scottish and Welsh governments are to be allowed to have a say in the Supreme Court battle over how Brexit should be triggered.

The government is appealing against a High Court ruling that MPs must get a vote on triggering Article 50. The Supreme Court has confirmed that Wales and Scotland will be allowed to take part in the appeal. However, PM Theresa May said on Friday that work was "on track" to begin the formal process of Brexit by April 2017.

At a press conference  with German Chancellor Angela Merkel, Mrs May said: "We stand ready to trigger Article 50 by the end of March 2017 and I want to see this as a smooth process, an orderly process, working towards a solution that's in the interests of both the UK and also in the interests of our European partners" Reaffirming her stance that Brexit still means Brexit for the UK. 

USD

The dollar climbed to its highest level in almost 14 years against a basket of currencies on Friday, while U.S. bond yields were set for their biggest fortnightly rise in 13 years on bets U.S. inflation and interest rates are headed higher.

A growing perception that the economic policies of U.S. President-elect Donald Trump will push up consumer prices helped put the dollar on track for its biggest two-week rise against Japan's yen in almost 30 years.

Figures released  Thursday suggested the U.S. jobs market is tightening and inflation is gaining traction have strengthened a view that U.S. growth and inflation could accelerate if Donald Trump’s administration cuts taxes and increases fiscal spending.

Key Announcements

16:00 – EUR: ECB President Mario Draghi Speaks