Monday, 10 September 2018

Pound rises on Michel Barnier's Brexit comments

The pound rose more than 1% against the dollar on Monday, after the EU's chief negotiator said a Brexit deal was possible within eight weeks "if we are realistic".

Sterling later fell back slightly to $1.3042 by the end of the afternoon.

It is the second time in less than a week, Michel Barnier has made comments interpreted as suggesting the EU may be softening its negotiating stance.

The euro also rose against the dollar by around 0.5%.

The possibility that the UK might crash out of the EU without a negotiated settlement has weighed on sterling in recent weeks.

BBC      News.

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