News broke yesterday of Boris Johnson and the EU finally agreeing a deal for the UK to leave the EU. Finally. Once news broke of the agreement the Pound began to surge to levels not seen for the past 5 months. GBP/USD was in touching distance of hitting $1.30 and GBP/EUR hitting a high of €1.1633.
These gains were short lived as the DUP quickly tweeted that they would not be backing the new deal and the steam ran out of Boris being able to push the deal through Parliament. This saw cable retrace its gains back to a resistance level of $1.2750 and the single currency drop back to the low €1.15’s. All eyes will be on the special sitting of Parliament on Saturday to see if Boris can gain the support, he needs to get the deal voted through.