NAB – The Morning Call · UK-EU no deal looms, Aussie breaks 75 cents, ECB to buy more bonds
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UK-EU no deal looms, Aussie breaks 75 cents, ECB to buy more bonds

Friday 11th December 2020

Even though a hard deadline has been set for Sunday for the UK-EU trade deal, there’s no guarantee it will all end there. NAB’s Gavin Friend says a no-deal could weaken the pound and soften the Aussie dollars chances of maintaining its position over 75 US cents. The ECB has announced more bond buying, whilst the EU has managed to broker a deal to pass its budget, including the Recovery Fund, using the age-old EU technique of kicking the can down the road. The US is also obfuscating on the fiscal stimulus package as virus numbers continue to rise.

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