Sterling slips

Sterling has lost some ground against both the euro and the dollar amid tensions between the UK and EU, falling to around 90p and to under $1.3150 respectively, while the single currency remains steady against the dollar trading at $1.18. Equity markets in the US were closed for a public holiday yesterday but European indices had a good day, advancing by almost 2%, while core bond yields were little changed

The European Commission President, Ursula von der Leyen, says the Withdrawal Agreement concluded between the EU and the UK is an “obligation under international law” and its full implementation is a “prerequisite for any future partnership”

As talks on the future EU-UK partnership resume in London today, the UK’s David Frost says “we have now been talking for six months and can no longer afford to go over well-trodden ground,” adding that “we need to see more realism from the EU about our status as an independent country”

Retail sales in the UK remained solid in August judging by the latest British Retail Consortium survey, which reported an annual increase in spending of 4.7% last month

Data published by the CSO yesterday show that GDP in Ireland fell by 3.0% year-on-year in the second quarter of the year, while GNP was down -2.5%. On a seasonally adjusted quarter-on-quarter basis, GDP and GNP were down 6.1% and 7.4% respectively

The main data releases due today are final estimates of Euro Area GDP and employment in the second quarter