GBP/USD climbs to 2020 high

GBP/USD climbs to 2020 high

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The pound soared to its highest level against the US dollar since December 2019, on the back of reports that a post-Brexit deal between the UK and EU could be agreed before the weekend.

This sentiment was fuelled by a statement from the EU’s Chief Negotiator Michel Barnier that the UK have lowered their demands regarding access to fishing waters, previously one of the main points of contention in the protracted negotiations. With investors keen to see both parties avoid a no deal Brexit for all the economic uncertainty that would create, they welcomed this news of a deal being close at hand and sent the pound higher against the euro, and GBP/USD to a 2020 high.   

 

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