Sterling Consolidates Gains on Brexit Deal Hopes
Friday, 11 October 2019 16:17 WIB | CURRENCIES |Poundsterling

The British pound consolidated gains early Friday after its biggest one-day jump in two years in response to signs of a possible agreement on the Irish border problem that has plagued the Brexit negotiations.

By 4 AM ET (08:00 GMT), GBP/USD was at $1.2460, up 0.2% from late Thursday and on course for a 1% gain against the dollar over the week. GBP/EUR was up 0.1% at 1.1315, on course for a weekly gain of 0.7%.

Reports suggested that the U.K. had conceded that the province of Northern Ireland would remain in the EU customs area immediately after Brexit “ a move that would satisfy EU concerns about the integrity of its border.

However, it could lose the Conservative government the support of Northern Ireland™s Democratic Unionist Party, as well as some Conservatives who baulk at a step they say could lead to the breakup of the U.K.

As such, there is no guarantee that Johnson™s proposals could command a majority in the House of Commons “ the same problem that brought down his predecessor Theresa May.

Source : Investing.com

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