tom: jane foley with us from rabobank.s to talk about, arguably the litmus paper of the international system on foreign exchange. we will continue this conversation at the beginning of the next half-hour. negative, futures nasdaq futures go positive. other than that, it's remarkably quiet. flightyually right now -- stronger, rather. "balance of power" with david westin, the former federal reserve governor. this is bloomberg. good morning. ♪ ♪ >> this is "bloomberg surveillance." i have your bloomberg business flash. bytedance has asked the trump administration to extend today's deadline to sell its tiktok business in the u.s. in august, president trump that becausech be spun off of concern about american user'' information. the deal is not final. siemens is forecasting a modest increase for growth in 2021 after a tough year for industrial companies due to the pandemic. europe's biggest engineering firm warns that some coronavirus related challenges remain. that could cause customer investments to lag behind economic growth

jane foley from rabobank stays with us. at the poundlook given the lockdown in london and the u.k., but given we could be making ways toward some kind of deal on brexit. tomorrow, much more on the election. we'll bring you special coverage, analysis today and tomorrow. this is bloomberg. ♪ francine: england joins austria and greece on imposing tougher restrictions this week. boris johnson announced the partial lockdown which would cause shops to close from thursday. paper exit deal could be secured by november. -- a budget deal could be secured by november. let's get more with emily ashton. amongstunhappiness boris johnson mp's. how big a rebellion is he facing? >> boris johnson didn't want to impose the second lock down for weeks if not months, but the new projections from his scientific committee left him with no choice, he says, because projections show deaths will rise throughout december and beyond if there is no action. he's going to go to the house of commons this afternoon and said the second wave is going to be mor

. -- jane foley,nk rabobank is still with us.ut something on the brexit trade deal even if it seems slow in coming. jane: it does indeed. we feel we have been holding our breath for a long time. the market has priced in a lot of good news despite the fact that we have not had anything concrete for quite a few weeks. what the market i think has priced in is a fairly skeleton the sides.n something that might cover some sectors in the manufacturing sector. the likelihood is that the talks will carry on well into the new year. the market could be in for quite a big shock if we do not get a deal at some time soon. we know it has to come soon because it has to be ratified by all of the eu countries. we have seen reports that it could be fudged to some degree but there still needs to be some time. sterling, good news with the price but some vulnerability if we don't get a deal. anna: skeleton or skinny deal. you are referencing the possibility of having some staged deal. what would a deal have to look like to be able to send sterling hi

jane foley is head of foreign exchange strategy at rabobank. so nice to see you.he clock is ticking, and we can't hear it at times, there's so much by the noise out there regarding coronavirus, lockdowns and everything else in the economy. where are we at these talks? well, we are very close to the deadline. that certainly can be said for sure. but there has been speculation certainly in the market. the consensus view at least since september is there will be some kind of deal, but what sort of deal are we going to get? and it's very likely that if there is a deal, it will be more of those that covers various aspects of the manufacturing sector. but whatever happens now, whether we get a deal or not, there's going to be confusion at the borders, certainly in january and may be beyond, and some degree of chaos, and perhaps continue pushes for some parts of the economy to carry on their negotiations, perhaps beyond the start date or the end date of the transition phase at the end of this year. just talking through the politics, in the sense that the uk parliament wi

peter matus -- pewter matus atys joins us now of rabobank.is so important here is the distention of the pacific rim versus everything else. is em doing better, or is it just an asian story? from the you look perspective of containing the coronavirus pandemic, definitely asia is doing much better, and this is reflected in the price action with asian currencies outperforming other em. i think there's a lot of reasons to be cautiously optimistic looking into 2021. i think the actual policy will be able to catch up in asia next year. tom: that is a really important insight. what is the why of the catch-up? , we seet the moment currencies underperforming because of the second wave of the pandemic. but governments are determined to save as many jobs as possible. we going to have strong impulse from the eu construction fund, and those funds should be redistributed at some stage next year. interest rates in the region are also very low. i think there's going to be some impulse from domestic demand once the pandemic is under control. tom: i think it i