Those of you that were in a position to act swiftly managed to catch sterling at its highest level against the single currency in nearly 6 months this morning. For the first time since June the pound pushed over 1.15 but these levels were not to last. In fact by the close the pound had fallen by over 1% to reach 1.1360.
Initial signs were good this morning following news that Theresa May had struck a last minute deal with the EU in a bid to move Brexit talks onto the next phase. There will be no “hard border” with Ireland, and the rights of the EU citizens in the UK and UK citizens in the EU will be protected. Its so called “divorce bill” will amount to between £35 and £39bn – less than the £50bn as speculated a week or so back but still enough to push the pound through 1.15.