Market Extra: Why sterling rallied to a roughly 2-month high with no fresh Brexit developments [MarketWatch]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: MarketWatch
Why sterling rallied to a roughly 2-month high with no fresh Brexit developments How, when and if Brexit will get done is still uncertain. Yet, the British pound rallied on Thursday. It would appear, in the absence of any fresh catalysts, the path of least resistance is higher for sterling. In fact, the pound GBPUSD, +0.8619% rallied to its highest level since mid-November against the U.S. dollar, last buying $1.2988, compared with $1.2878. The euro EURGBP, -0.8704% meanwhile, was down 0.9% against the pound at £0.8766. The rally was aided, perhaps, by the market sentiment that a hard no-deal Brexit, in which the U.K. would crash out of the European Union without a plan in place, is becoming less likely, as the clock to the designated exit date on March 29 runs down, market participants said. “The margin of defeat of May’s deal was so large that the sentiment was the roadmap will lead to a softer or no Brexit,” said Mazen Issa, senior FX strategist at TD Securities. “But the ris
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- 3/27/24 - Form 424B2
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- TD's page on the SEC website