After several days of weakness, the Pound found support during the early part of Wednesday’s session, recording gains versus both the Euro and the Dollar following encouraging developments as the EU and the UK reach the final stretch of their protracted negotiations. The last few days have been a roller-coaster for sterling, as brinkmanship from both sides pushed investors into starting to price-in higher chances of no deal, driving losses for the British currency. Over the last 24 hours the scenario changed again and sterling recovered the week’s earlier losses, as the British removed the more controversial clauses from the UK Internal Market bill, a move seen by many as the waving of an olive branch to Brussels and the indication that London’s preferred scenario is still to avoid walking away from the negotiations empty-handed.
