The Pound Euro (GBP/EUR) exchange rate is trading -0.2% lower just through €1.10 in early trade. Its fourth consecutive day of losses as the pair heads for 2% losses so far this week.
The internal markets bill unveiled by the British government is said to undermine the Brexit agreement, particularly in focus is the treatment of Northern Ireland. Whilst the EU are continuing with trade talks for now, the chances of a trade deal appear have diminished.
The ECB are not expected adjust monetary policy today. New economic projections will be released providing some clarity to the outlook. A dovish tone could be expected following negative interest rate surprise.
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