Breaking: GBP now up more than 3% vs. USD - Biggest two-day rally in more than three years
|The British Pound extended its rally against the USD on Friday on hopes of the United Kingdom (UK) and the European Union (EU) reaching a Brexit deal before the October 31 deadline.
As of writing, the GBP/USD pair was up 1.1% on the day at 1.2575. With today's upsurge, the pair is now adding more than 3% since Thursday, registering its biggest two-day rally since June of 2016.
In the last hour, following his meeting with British Brexit Secretary Barclay, the European Union (EU) Chief Brexit Negotiator Michel Barnier said that they had a constructive meeting and added that they need to show "vigilance and determination" to trigger the latest upsurge in the pair.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.