Sterling outlook is gloomy

The pound was up a little this morning as there are expectations that the Bank of England will eventually tighten their policies thus protecting the pound from the current conservative government.

We had seen two resignations from members of the current government in just over a week. This has dented the confidence that the conservatives can agree a strong deal with the EU as they seem to lack ability.

Priti Patel was forced to resign last night after she had held secret meetings with Israeli officials, this comes just days after Michael Fallon, the defence secretary, resigned in a sexual harassment scandal.

Talks are due to start later today so I can see Sterling volatility set in.

The way things are looking for the pound at the moment is gloomy, there is nothing to suggest the pound will strengthen.

Tomorrow we have the UK industrial, Manufacturing and Construction data being released. Expectations are that the data will come in lower than last month and even lower than the expectations, this could see the pound drop off further.

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