Finance
Pound dollar exchange rate surges on Brexit deal progress
Reuters / Matt Dunham
-
Pound jumps after reports UK and EU negotiators made
another breakthrough on the path to Brexit. -
The pound has gained more than 1.1% against the dollar
on Thursday morning. -
It had dropped sharply in the past week after Cabinet
resignations over Prime Minister Theresa May’s Withdrawal
Agreement. -
You
can follow the pound live at Markets Insider.
The
pound has taken off after reports that UK and EU negotiators
have
made another breakthrough on the path to Brexit.
European Council President Donald Tusk said on Thursday morning
that a political declaration on the UK and EU’s future
relationship “agreed at negotiators’ level and agreed in
principle at political level.”
Prior to Tusk’s comments, an EU official said on Thursday
morning that a 20-page declaration had been finalised ahead of an
EU summit on Sunday where Prime Minister Theresa May hopes to
have the Brexit divorce deal signed off.
The news, which marks another major step forward in the Brexit
process, sent the pound flying higher, gaining as much as 1.1%
against the dollar, and passing back above the $1.29 mark, which
it dropped below a week ago after a series of resignations from
the British Cabinet.
By 10.40 a.m. GMT (5.40 a.m. ET), it was trading at $1.2910, a
gain of 1.15%, as the chart below shows:
Markets Insider
Our Brexit Insider Facebook group is the best place for up-to-date news and analysis about Britain’s departure from the EU, direct from Business Insider’s political reporters. Join here.
-
Business7 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Entertainment7 days ago
Mark Zuckerberg has found a new sense of style. Why?
-
Business6 days ago
Humanoid robots are learning to fall well
-
Entertainment6 days ago
2024 summer TV preview: 33 TV shows to watch this summer
-
Business5 days ago
Google Gemini: Everything you need to know about the new generative AI platform
-
Entertainment5 days ago
‘Bridgerton’: Everything you need to remember before Season 3
-
Business3 days ago
Haun Ventures is riding the bitcoin high
-
Entertainment3 days ago
Hands-on with the Claude AI app: It’s pleasant to use, but janky