- Posted by currencies in Rate Alerts
- June 2, 2020
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Sterling climbed above $1.25 to its highest in a month against the dollar, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with the European Union provided support.
Britain is expected to indicate flexibility over fisheries and trade rules if the European Union agrees to lessen its “maximalist” demands regarding regulatory alignment and fishing access, the Times newspaper reported, as a new round of talks kicks off.
Britain has until July 1 to ask for an extension to the current transition period, which ends in December.
Despite what is likely to be a period of high Brexit headline risks for UK assets in the coming weeks and months, a report that the UK may be willing to compromise in upcoming Brexit negotiations – along with broad-based US dollar weakness due to the idiosyncratic risk posed by nationwide U.S. protests – is keeping the pound underpinned against the dollar.
GBP/EUR 1.1220 GBP/USD 1.2540 GBP/AED 4.602
GBP/AUD 1.8327 GBP/CHF 1.2017 GBP/CAD 1.6940
GBP/NZD 1.9916 EUR/USD 1.1166 GBP/ZAR 21.614