Sterling posts largest daily jump against Euro since March

Economies.com
2019-10-11 19:02PM UTC

The British pound surged against most major during trading sessions today, as speculations mounted about a near Brexit deal.

 

Investors' risk appetite increased today after the US and China announced they reached a partial trade agreement.

 

British Prime Minister Boris Johnson stated that despite a final deal with Brussels hasn't been reached yet, but progress is being made.

 

Johnson added that a flexible Brexit deal will benefit not only London but all parties involved.

 

Irish PM Leo Varadkar and Johnson have said yesterday that a deal can be reached that could allow Britain to leave the European Union in an orderly fashion.

 

As of 19:00 GMT, GBP/USD rose by 1.7% to $1.2659, with an intraday high of $1.2706 and a low of $1.241.

 

GBP/EUR also rose by 1.4% to 1.1466, with a high of 1.15 and a low of 1.127.

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