Sterling Surges After Constructive Talks

GBP

Sterling surged on Friday to a three-month high amid investor optimism about a last-minute Brexit. The pound has rallied more than 3% since Thursday, its biggest two-day gain since before the June 2016 referendum.

EU Brexit Negotiator Michel Barnier said he had had a “constructive” meeting with UK Brexit Secretary, Stephen Barclay on Friday. This followed talks between the Irish and British Prime Ministers on Thursday, after which a joint statement spoke of “a pathway to a possible deal”.

Following the more confident noises coming from Brussels, London and Dublin, there were hopes that a meeting between British and EU negotiators will pave the way for a Brexit transition deal at a summit on 17-18th October.

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