The pound loses some ground as the Brexit narrative continues to hint that both sides are still nowhere close to a deal
Pound buyers are running into some headwinds ahead of the weekend, with Brexit talks still seemingly leading nowhere despite the fact that Michel Barnier will be headed to London this evening to continue negotiations.

Latest data released by Eurostat – 27 November 2020
As the restrictions look set to continue until the closing stages of the year, it makes for a very uncertain outlook going into Q1 2021 if the virus situation isn’t contained.

Daily Express Brussels correspondent, Joe Barnes, tweets
EU diplomat says: ‚The gaps on level playing field, governance and fisheries remain large. Michel Barnier wasn’t able to to say at this stage whether a deal would be possible. Without London taking the necessary decisions quickly, reaching a deal will be all but impossible.‘
This reads more like finger-pointing,

Jiji Press reports on the matter

Comments by ECB policymaker, Peter Kazimir
Tools that have „worked“. Clearly more hints that rate cuts are off the table for December. This just reaffirms that extending PEPP and enhancing TLTROs are the likeliest options that the governing council will stick with.

Liverpool to be moved down from Tier 3 to Tier 2

A quiet one amid the Thanksgiving holiday period
There are also large expiries seen rolling off later today at 104.00 so that is likely to keep price action anchored around the region above for the time being.

Comments by Irish foreign minister, Simon Coveney

Comments by ECB policymaker, Robert Holzmann
– PEPP purchases worked, helped to lower spreads
– There are indications for sustainable recovery from the middle of 2021
Yeah, that is not going to happen. Holzmann’s remarks may be his own but I’m sure most, if not all, governing council members would also not go with a rate cut next

Latest data from the Mortgage Bankers Association for the week ending 20 November 2020
–  -0.3%
– Market index 863.6 vs 831.5 prior
– Refinancing index 4,077.7 vs 3,901.6 prior
The long-term mortgage rate fell to a survey low in the past week and that is continuing to spur housing market activity, with purchases and refinancing both jumping. After