Analysts at Scotiabank noted the key data and ongoing Brexit noise.
Key Quotes:
“The UK “Nationwide” House Price Index rose a little more than expected in Sep, gaining 0.3% M/M but the Construction PMI data was a disappointing 52.1 this month, against expectations of a drop to 52.9. The PMI stood at 55.8 in July.”
“UK focus remains on the government’s Brexit positioning, amid a renewed attempt to resolve the Irish border issue.”
“We continue to think that Brexit pressures risk undermining the GBP in the near-term, with time running short to secure an agreement that will smooth the UK’s departure from the EU.”
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