Rolling coverage of the latest economic and financial news
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Wall Street is expected to recover yesterday’s slump too, thanks to Bloomberg’s report that a US-China trade deal could still happen soon.
Sterling is also climbing against the euro, hitting a near-nine month high of €1.1786.
That’s because Boris Johnson appears to have next week’s election “in the bag”, says Dean Turner, economist at UBS Wealth Management.
The election is Boris Johnson’s to lose. However, turnout rates, tactical votes, and the usual campaign trail pitfalls could all swing the final result.
“Sterling has strengthened on days when the prospects for the Conservative Party have seemingly improved, and vice versa. One interpretation of this phenomenon is that investors favour the prospect of clarity on Brexit.