Yesterday the Pound had its best day in 7 months, gaining almost 2%. On Friday the positive sentiment is continuing, and Sterling is already up by more than 0.1%. The markets are reacting to widely reported rumours, that emerged after a meeting between the Irish and British Prime Ministers. These are rumours of a deal between the UK and the EU being within sight, to establish a mutually acceptable solution for a post-Brexit Irish border.
The Irish backstop issue has been the main obstacle to an agreement being reached between the 2 sides; therefore, even though there are no details or official statements about this potential deal, the Pound is finding support as hopes rise that a hard Brexit can be avoided.
Photo by Jaime Casap.
