The Pound has lost some ground against the Euro and Dollar as the market took a more cautious view on Brexit trade negotiations. This morning, UK employment figures saw mixed results. The unemployment rate came out better than anticipated at 4.9% but the claimant count change saw a huge increase at 64.3K compared to 10.5K that was expected which had a net neutral effect.

The Euro saw some strength yesterday with the release of Eurozone industrial production data that was at 2.1% compared to 1.8% that was forecast. Italian PM Conte believes that the country must adopt stricter lockdown restrictions for the holiday period in order to avoid a third wave of virus cases just like Germany.

US Senate leader McConnell has said it is time for an agreement to be made on the fiscal stimulus package that has been negotiated for months to help businesses and families cope with the effects of the coronavirus and he hopes a deal can be agreed to before the holidays. This has led the Dollar to stay weak against the Euro due to a lack of demand for its safe-haven status.