The pound hit a two-month high against the euro earlier this morning due to optimism surrounding Brexit talks. However, this was short lived as the US election is driving market volatility.
Brexit talks have paused for a few days as chief negotiators Michel Barnier and David Frost report back to their teams. Reports suggest that talks are on track to reach a conclusion in mid-November, however, issues surrounding fisheries and the level playing field remain.
Since the initial boost due to Brexit news, the pound is weaker against the euro and the dollar. The result is still uncertain but Trump’s win in Florida suggests that the Democrats won’t win by the margin that was hoped for. Trump has done better than the polls predicted, and it is still tight in key swing states.
