Step forward of EU/UK Negotiations
|With the likelihood of a ‘soft’ Brexit on the rise, the British pound jumped: in Friday trading, EUR/GBP fell to 0.8689 and GBP/USD rose to 1.3520.
Markets welcomed the news that the United Kingdom and the European Union have reached a preliminary agreement on the UK’s departure from the EU, including a resolution of the tricky border between Northern Ireland and the Irish Republic. Also settled are the general financial terms and the rights of EU citizens living in the UK and UK subjects living in the EU. Just as all hope seemed lost, a deal was agreed, which makes it hard for us to see anything but a soft Brexit.
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