Analysts at Rabobank point out that in the UK, public sector borrowing report will be released, but the main focus remains on Brexit talks.
Key Quotes
“As UK Brexit Minister Dominic Raab heads to Brussels today for the latest round of talks with his EU counterpart, UK Trade Secretary Liam Fox will unveil a plan to support UK exporters.”
“In a speech today Fox will state that the UK “has the potential to be a 21st century exporting superpower”. Through a package of support measures which will include better loans, guarantees and support to UK business, Fox is hoping to raise exports to 35% of UK GDP from around 30%.”
“Theoretically a weaker pound should be supporting exporters (the BoE’s measures of the UK’s effective exchange rate is currently more than 5% lower from its May high). However, political uncertainty and the reliance of many UK exporters on imported inputs has complicated this effect.”
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