Eurogroup’s Centeno has been reported saying that some uncertainties surrounding Brexit and trade have lessened.
What is being referred to is unclear. it was only yesterday, that a news in the Finacial Times and reported in the Independent also made for an opening bearish gap in cable at the start of Asia yesterday when focussing on comments quite to the contrary from the UK’s Finance Minister, Sajid Javid, who admitted businesses will be hit by Brexit as he fired off a warning to manufacturers that “there will be no alignment” with EU rules. More on that here.
FX implications
Today, EU finance ministers of the eurozone meet on 20 January 2020, in Brussels, a presser passed although there have not been wires related to Brexit thus far. GBP is unchanged on this headline, 0.05% on the day at the time of writing, weighed by dovish Bank of England prospects.
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