Pound hits three-week high on Brexit deal hopes

Thursday, 22. August 2019 15:55

The pound rose over 1% on Thursday, hitting the highest level against the dollar since late July on hopes the United Kingdom will manage to reach a deal with the European Union before its exit from the bloc scheduled for October.

UK Prime Minister Boris Johnson expressed confidence Britain can get a "good deal" with Brussels before October 31, noting he was "encouraged" following yesterday's talks with German Chancellor Angela Merkel. Meanwhile, French President Emmanuel Macron insisted the EU will not consider Johnson's demands to reopen the existing withdrawal agreement and remove the Irish backstop clause. Earlier, Merkel stated that the issue of the Irish border can be addressed without renegotiating the current Brexit deal.

After hitting the three-week high of 1.22651 minutes earlier, sterling jumped 1.10% against the dollar to sell for 1.22584 at 3:52 pm CET. The British currency added 0.86% compared to the yen to go for 130.331 at 3:53 pm CET, while the euro slid 0.92% against the pound to change hands for 0.90566 at 3:54 pm CET.

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Breaking the News / NP