GBP/EUR at 2020 high amid Cabinet reshuffle
GBP/EUR at 2020 high amid Cabinet reshuffle
1 minute readSterling has made considerable gains on the euro today as Prime Minister Boris Johnson reshuffles his Cabinet. The PM’s first reshuffle since the UK left the EU saw senior figures Attorney General Geoffrey Cox and Andrea Leadsom lose their jobs while Chancellor Sajid Javid has resigned.
The removal of several hardline Brexiteers has sent GBP/EUR to a high for 2020. Investors are optimistic of the reshuffle serving as a breakthrough amidst continued tension between the UK and EU over a trade deal. With neither side yet ready to budge in their demands, a change in approach could mark progress towards a positive trade deal before the end of the year deadline.
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