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