Pound hits 6-1/2 month high vs. euro on hopes for imminent Brexit deal [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Pound hits 6-1/2 month high vs. euro on hopes for imminent Brexit deal | Reuters 3 Min Read LONDON (Reuters) - Sterling hit a 6-1/2 month high versus the euro on Tuesday after the British cabinet office minister said the United Kingdom and the European Union were on the cusp of a Brexit deal, lifting hopes of an imminent breakthrough in talks. The British currency had tumbled on Monday on fears that negotiations with Brussels on the terms of the UK’s exit from the EU were deadlocked less than five months before the official departure date of March 29, 2019. David Lidington, Prime Minister Theresa May’s de facto deputy, told BBC radio on Tuesday that Britain and the EU were “almost within touching distance” of an agreement. He said it was still possible there could be a deal in the next 24 or 48 hours. The pound rose more than half a percent versus the euro to 86.82 pence in the hours after Lidington’s comments, hitting its highest since April. Sterling also jumped as high as $1.2929 f
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