Demand for Sterling (GBP) remains steady against EUR & USD as the UK & EU continue to make heavy weather of coming to an agreement on the final Brexit bill. It has always been obvious that No Deal would leave us in a better position than a Bad Deal, which is precisely why so many pro-EU Members of Parliament are in favour of a deal on the worst possible terms. The real intention of the EU negotiators is to inflict a settlement that cripples the UK economy for the next 20 years. This achieves the twin goals of leaving the UK in a weakened position that will make it difficult it to compete with the EU as a whole, demonstrating that independence from the EU will be punished.
US Government shutdown ends after 3 days
The usual US Government stand-off between the need for more ‘temporary’ cash & the peculiar quirks of American politics that requires the various interested parties to indulge in horse-trading and concessions over apparently unrelated issues has brought the issue to a close on exactly the same terms they rejected 3 days ago. That this went slightly beyond the wire is nothing more than an extension of the usual boundaries for brinkmanship. It has achieved very little beyond making the Democrats look as if they prioritise the interests of illegal immigrants - and who are ineligible to vote- over those citizens who have entered the USA openly & honestly – and who are eligible to vote. It hardly needs to be said that this is a slight that will not soon be forgotten.