British pound rose to its highest level since May
British currency rose against the dollar and the euro to its highest level since May as report from EU officials said that, both sides (EU and Britain) are getting closer to reaching the Brexit deal.
Two weeks before Britain’s departure from the European Union, European leaders will meet on Thursday in Brussels for discussion where the main topic is Brexit. Deadline for the deal was set on the end of October and there are still some unanswered key questions and talking points. If the deal would not be ready by 19 October, Britain have to ask for another extension. According to law approved by British Parliament in September. However, Boris Johnson persistently claims that he will not ask for it. Negotiators still hope to meet the deadline which boosted the value of sterling.
The pound jumped against the euro by 1.34 % at EUR/GBP 0.863 and hit a five-month high. Against the US dollar, the pound strengthened by 1.35 % at GBP/USD 1.278 which is also a highest level in five months.