Also in the news...
Prove your English language abilities with a secure English language test (SELT)
For visa or citizenship applications, you may need to prove your knowledge of English by passing a secure English language test (SELT).
UK and Nigeria Enhanced Trade and Investment Partnership arrangement
The Enhanced Trade and Investment Partnership (ETIP) sets out the UK and Nigeria’s priorities for future discussion and cooperation.
Export to the UK: guidance for African businesses
Find out about UK markets and sectors, trade agreements, UK import regulations and taxes, and support for African businesses from the UK government.
Guidance Start exporting to Africa
Find out about market opportunities, trade partnership agreements, support from the UK government, and export regulations and taxes in African countries.
Guidance Start investing in African businesses
Find out about investment opportunities and support from the UK government. Learn how to manage risk, invest ethically, and access guidance on African countries.
Another potentially big day for the pound as leadership challenge continues to loom.
Reports circulated yesterday morning that there were growing numbers of MPs ready to submit letters of no confidence in Theresa May, but despite this, GBP/USD held steady. It was only as she addressed the CBI conference later in the day that GBP/USD shed a quick 70-80 points, albeit she didn’t say anything we hadn’t already heard before.
There turned out to be good support at and just under the big 1.28 figure and it wasn’t long before Cable recovered, helped in part by a softening greenback. The pair has held firm and traded a steady range overnight, despite news that DUP MPs abstained on a series of votes on the Finance Bill yesterday evening, in protest of the current agreement. On one occasion they voted with Labour to cut the government's majority to just five. The DUP have warned Theresa May to "keep her side of the bargain" saying the backstop would result in new regulatory barriers between Northern Ireland and the UK.
It’s another potentially big day for the pound with BoE Governor Carney speaking, along with other MPC members, following the release of the central bank’s inflation report. The threat of a leadership challenge is still looming, too, and herein lies bigger potential for a negative GBP shock.