Blog


Market Update

The British pound rose more than 1% yesterday on hopes that Britain could secure a Brexit trade deal with the European Union by October or at least avoid a cliff-edge exit from the bloc.

The EU and Britain kicked off a decisive week of talks on Monday but cautioned that a deal was still some way off.

A final agreement must be reached by the end of December but both sides have set a preliminary deadline for next month as it will take some time to sign off any deal.

The pound’s gains were fuelled by an EU diplomat saying last week that “the mood music was a bit better” after Britain’s Brexit supremo Michael Gove expressed confidence about securing a trade deal.

If discussions this week lead to a breakthrough in fisheries and a level playing field, then we could hopefully land an agreement by Oct. 15.

The dollar held steady against a basket of currencies as financial markets braced for the first U.S. presidential debate, while traders also tracked developments on the U.S. stimulus bill.

All eyes are on the first U.S. presidential election debate where Democrat Joe Biden and Republican Donald Trump will square off later on Tuesday (0100 GMT on Wednesday).

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited, Equals Connect Limited and Ebury Partners UK Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Mananger. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the information commissioners office with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers