Pound strengthens to a 2 month high
The pound managed to break back through €1.12 against the Euro this morning and hit a 2-month high against the USD, moving past $1.2450 at the mid-market. This is mainly down to investors buying back the Pound as fears over a no deal Brexit are receding. The US Dollar is also a factor causing the move, with easing fears over the Chinese trade war funds are being moved into riskier assets and the Pound is seeing a benefit.
Boris Johnson has also agreed to travel to Luxembourg on Monday for the first time to try and negotiate a deal with the EU. The meeting is scheduled for lunchtime and will be the first time Boris has meet face to face with his EU counterpart Jean-Claude Juncker.
If you have an upcoming USD or EUR requirement you can get in touch with a currency expert at Optimal Currency for a free no obligation consultation. We will gladly offer our knowledge and expertise to help you navigate the volatile and sometimes confusing currency markets.