NewsBreak: Pound Continues Climb on Brexit Hopes

NewsBreak: Pound Continues Climb on Brexit Hopes

Oct 10, 2019

The pound continued to climb on Thursday, on signs of meaningful progress on Brexit after Irish Prime Minister Leo Varadkar confirmed that a deal could likely be reached by Oct. 31, when the U.K. is expected to leave the European Union.

  • Following last-ditch talks with U.K Prime Minister Boris Johnson, Varadkar reportedly said he was “absolutely convinced" the UK wants a Brexit deal, which is "possible" by 31 October.

  • The more sombre outlook marked a shift in sentiment from lawmakers in Brussels, some of whom recently had questioned whether U.K. Prime Minister Boris Johnson really wanted to make a deal.

  • GBP/USD surged by the most in 11 months to $1.243, up nearly 2% on the day.
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