The British Pound has found some renewed optimism following PM Johnson’s plans to speak with the EU.
Whilst Boris Johnson was scrutinized in Parliament over his new Brexit deal, US legislators have been responding to Iraqi retaliation which has caused spikes in global oil prices.
Today, the British Pound has been pushing strongly against the majority of world currencies as optimism has hit traders over PM Johnson’s ability to spark a deal with the EU.
President Ursula von der Leyen and Johnson are set to meet to get the ball rolling over the UK’s eventual exit from the EU.
Von der Leyen said she wants a deal with “zero tariffs, zero quotas, zero dumping that, goes well beyond (others). Everything from climate to data protection energy fisheries space financial and security”.
“The truth is that our partnership cannot and will not be the same as before. And it cannot and will not be as close as before – because with every choice comes a consequence. With every decision comes a trade-off. Without the free movement of people, you cannot have the free movement of capital, goods and services. Without a level playing field on environment, labour, taxation and state aid, you cannot have the highest quality access to the world’s largest single market,” said von der Leyen.
A spokesman for Downing Street commented: ‘At the leaders’ first face to face meeting since Von der Leyen took office in December, the prime minister is expected to stress the importance of agreeing a confident and positive future relationship by the end of December 2020.’
The Pound Euro (GBP/EUR) exchange rate improved today, with the pair currently trading at €1.1802, after seeing an opening price of €1.1756 and a low of €1.174.
As the deadline for Brexit continues, there still be will be some anxiety in the market as negotiations unfold.
Global News
Continuing political tensions between the US and Iraq have dominated news headlines on Wednesday,Since Friday, the US and Iraq have been in a lockdown after Qasem Soleimani was killed following a US attack.
The former Iranian Major General had his funeral held yesterday, however more political violence and turmoil unfolded.
The dollar has been volatile following these tense relations, and the attack by the Iraqi high government sent the currency in shock.
The current market value of Pound Dollar (GBP/USD) is at $1.3124 seeing highs of $1.3169 and lows of $1.3081.