Breaking News: GBP/USD jumps as Raab says a Brexit deal is expected by November 21


UK Brexit Secretary Dominic Raab says a Brexit deal is due by November 21st. Raab noted that an agreement must be done by the end of November to allow time for legislation to be passed. Negotiations continue. The comments were made in a letter sent by Raab to Hillary Benn which chairs Parliament's committee on Brexit. 

The GBP/USD is reacting positively, and it jumped above 1.2800. The high so far was 1.2830. Resistance is seen at 1.2840 and 1.2900. Support is at the lows of 1.2700. The EUR/USD also enjoys a small bounce and moves away from the fresh 10-week lows of 1.1310.

GBP/USD jumps on Raab's optimism for a Brexit deal on November 21st

Earlier in the day, headlines quoting Raab also expressed optimism. He was quoted as saying that a deal is very close and the "end is clearly in sight." Optimism about reaching an accord also came from other sources. However, there are no details about a possible solution to the most thorny issue: the Irish border.

The Bank of England will convene for its rate decision and will publish the rate statement, the meeting minutes, and the Quarterly Inflation Report on Thursday. Governor Mark Carney will hold a press conference afterward.

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.

EUR/USD News

GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.

GBP/USD News

Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures