Pound/Euro spikes on Barnier comments

The Pound has strengthened today on comments from the EU chief negotiator Michel Barnier. He said that he was ready to speed up talks with the UK, and that in the next few days the dates for the next round of talks would be held. This hint of progress has helped Sterling gain against the Euro and other major currencies today.

The comments sent the Pound higher, nudging up to around €1.14 vs the Euro and $1.3250 vs the US Dollar. The chart below shows how GBP/EUR has moved today. (For live graphs on all Sterling pairs click here.)

This shows how unexpected events and even small comments can affect the currency markets. The current Pound/Euro rate is now very close to the best it has been in 5 months.

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