Ransquawk

Monday brought a correction on Pound, which strengthened at the end of last week. For a long time, the only thing the British currency is reacting to are the reports of brexit negotiations. The latest ones are positive. On Saturday, the head of the European Council Donald Tusk stated that he is an optimist in the sense of reaching an agreement. Juncker went even further, adding that the lack of agreement would be bad not only for Great Britain but also for the Union. He also stated that he counts on reaching agreement by November at the latest. On the EUR / GBP, the almost vertical slide of the last week’s price is visible. The rate has been growing since the beginning of April, so there is something to fall from. It seems that further positive reports of progress in negotiations should strengthen the Pound.

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