16/11/2020

Pivotal week for Brexit negotiations


GBP

Sterling strengthened on Friday against both the Euro and Dollar after news that Dominic Cummings, Chief Adviser to the Prime Minister, left his post. Optimism is now building that a deal could be clinched with a compromise with the EU more likely now that Cummings has left his post. Cummings had a hard stance on Brexit but his departure could lead to Boris Johnson softening his stance on Brexit and agreeing some sort of trade deal.

However a spokesman for Boris Johnson stated that the UK will not look to change their position. The UK and EU now enter a crucial week in Brexit negotiations with time running out, this week will be very pivotal in determining whether a deal can be reached or not. Three main sticking points remain but David Frost stated that ‘some progress’ has been made.

Key announcements

  • 9:00 – EUR – ECB financial stability review
  • 13:00 – EUR – ECB President Lagarde speaks

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