Sterling is lower against most majors overnight. Boris Johnson to use UN General Assembly visit to push for global climate commitments ahead of COP26 summit. The PM gave his chances of securing $100bn in annual climate aid as “6 out of 10” as he arrived in New York to galvanise wealthier economies to step up to the plate. This follows over 100 UK businesses such as Unilever, BT and Santander asking the PM to show leadership on climate change in a “limited window”. A report issued by the Resolution Foundation on Monday, points to job satisfaction remaining steady in the United Kingdom over the last thirty years. Overall, 54% of employees said they were satisfied with their jobs in the decade up to 2019.
The euro is higher against sterling and lower against the dollar in early morning trade. Germany’s Social Democrats, the SDP and its leader Olaf Scholz are in poll position heading into the final week ahead of Germany’s election campaign. It now looks increasingly likely that Angela Merkel’s CDU will exit government to be replaced by Germany’s first centre-left government for 16 years. Washington and Brussels continue to work towards a transatlantic data deal, following the European Court of Justice’s decision to annul the so-called Privacy Shield agreement in July 2020. Washington claims a deal is close, whilst the European Commission has suggested there is a long, long way to go.
The dollar is higher against most major currencies overnight. The US military said a drone strike it launched on August 29 killed 10 civilians, including up to 7 children, reversing its initial claim that it had hit an “imminent ISIS-K threat” to Kabul airport. The mistake came after ISIS-K killed 13 members of the US military at Kabul Airport. The Commander of US Central Command, apologised for a “tragic mistake”. Democrat senator, Joe Machin, has emerged as a key swing vote on climate legislation, as well as President Biden’s $3.5 trillion budget bill. Joe Manchin chairs the Senate energy panel and earned over $500,000 from coal production last year.
Ballinger & Co. Morning Report–20th September 2021
GBP>EUR – 1.1686
GBP>USD – 1.3677
EUR>USD – 1.1702
GBP>CAD – 1.7538
GBP>AUD – 1.8913
GBP>SEK – 11.953
GBP>AED – 5.0234
GBP>HKD – 10.648
GBP>ZAR – 20.235
GBP>CHF – 1.2759
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