Pound jumps as Brexit deal seems more likely

Wednesday, 16. October 2019 18:02

The pound jumped on Wednesday after United Kingdom Prime Minister Boris Johnson said that the UK and the EU are very close to reaching a final Brexit deal and EU officials expressed optimism that the agreement would be finalized soon.

After falling about 0.50% earlier in the day, the UK currency surged to trade 0.59% in the green against the dollar at 7:59 pm ET, going for 1.28576 after reaching a daily high of 1.28776 compared to the greenback. The last time the pound was this high in relation to the US currency was in May this year.

The euro lost 0.18% against the pound to change hands for 0.86147 at 6:01 pm ET.

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Author:
Breaking the News / VP