Brexit concerns are weighing on the pound - Scotiabank
Analysts at Scotiabank noted that Gilts are firmer and the pound is lower on the day as market concerns regarding Brexit overshadow the apparent progress made last week.
"Brexit Minister Davis appeared to soft-pedal the agreements reached with EU negotiators, suggesting they represented as “statement of intent” rather than a legally enforceable deal."
"He later remarked that the agreement was enforceable under the withdrawal agreement. Verbal flip-flops hardly encourage market expectations that this government has fully mastered the challenge of Brexit."