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05/10/2018 – This Morning’s Exchange Rates

• Posted by currencies in Rate Alerts
• October 5, 2018
• No Comments

The exchange rates are listed at the bottom of this article. Please note they are for indication only. For a live quote please contact us.

The European Union’s Brexit negotiators told national diplomats in Brussels late last night that a divorce deal with Britain was “very close”, according to two sources present at the meeting.

The EU signalled that it was engaging with new proposals emerging in Britain on how to avoid extensive checks on the Irish border after Brexit, a key potential deal-breaker in the unprecedented talks.

Following the news, sterling rose to a 10-week high of 88.19 pence against the euro. The British currency also hit a five-day high versus the dollar of $1.3053.

The two sides are trying to push the divorce deal as well as an agreement on post-Brexit relations above the line in time for two summits of the bloc’s leaders scheduled for Oct. 17-18 and Nov. 17-18.

A member of EU Brexit negotiator Michel Barnier’s team briefed diplomats of the 27 states remaining in the bloc on latest developments on Thursday afternoon.

That person said progress was also being made on other outstanding issues, including the policing of any agreement and protecting goods from special origins, according to the sources.

The member of Barnier’s team said he was open in principle to a planned British proposal on the emergency Irish border fix but that it has not yet arrived in writing from London and would need to be carefully analysed once it did.

GBP/EUR 1.1324

GBP/USD 1.3025

GBP/AED 4.7768

GBP/AUD 1.8443

GBP/CHF 1.2943

GBP/CAD 1.6849

GBP/NZD 2.0104

EUR/USD 1.1483

GBP/ZAR 19.170