This afternoon, we have seen the Pound rising as rumours swirl of a Brexit deal. For weeks and weeks many have been saying that the EU leave things until the last possible minute before making concessions necessary to get a deal, and we’re hearing that might be exactly what will happen today.
We are hearing that PM May will head to Strasbourg today, and that Junker will be offering some kind of deal with regards to the Brexit Withdrawal Agreement.
Illustrating how quickly things can change both in politics and the currency markets, since this morning the Pound has strengthened by around 1% against the Euro and US Dollar. Rates are at €1.1630 and $1.31 respectively, recovering losses from last week.
Time will tell what kind of deal will be offered, and if whatever May comes back with will get voted through parliament tomorrow. If it does, expect further gains for the Pound. If it doesn’t, the scale of any defeat will dictate the amount the Pound could fall by.