After displaying some weakness on Monday, the pound is on the front foot during early Tuesday trading, once again approaching the highs reached last week. Investors are gaining confidence from comments made by Michel Barnier, which contradicted a previous statement from the EU’s Finnish presidency that indicated the impossibility of an agreement before the end of the week.
The EU’s chief Brexit negotiator said that, despite the difficulties in finding a compromise solution for the Irish border, it is still possible to reach a deal in time for the summit that starts on Thursday. Sterling is behaving in such a volatile way to the latest reports because the markets now see a negotiated Brexit as the best possible outcome, on a binary choice between deal and no-deal, having completely discarded the possibility of Brexit being halted and the UK remaining in the union.
Photo by John Cameron.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.