Rolling coverage of the latest economic and financial news
- Latest: Bitcoin surges over $20k for first time
- Pound rallies over $1.35 on optimism
- Factories report ‘severe pressure’ on supply chains
- UK inflation falls to 0.3% in November
- Clothing and footwear prices fell sharply amid discounting
Time for a recap
The pound has hit its highest level in 31 months, on hopes that an EU-UK trade deal could be close. Sterling jumped to $1.355 for the first time since May 2018, after Commission president Ursula von der Leyen told the European Parliament that ‘there was a path to an agreement’.
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The latest word from parliament tonight is that the House of Commons will go into recess for the Christmas break tomorrow, as planned.
However, Downing Street says the House can be recalled very quickly to pass the trade deal legislation if necessary, our Politics Liveblog explains.
Number 10 confirms that Parliament will finish up tomorrow, but makes it clear they would bring MPs back quickly to vote IF there is a Brexit deal
And that recall could be as early as next week… in other words, Brexit deal isn't done yet, but if it is, Commons still has time to ram it through by the end of the year when status quo runs out
Sources confirm Commons *will* rise for Christmas recess this week.
But if there's a breakthrough in talks by Sunday they'll be recalled next week.
And if there's one next week they'll be recalled between Christmas and NY.
So not necessarily a sign of how talks are going.
