The pound reached a five month high against the dollar yesterday, as the currency continues to find strength on hopes of a Brexit deal. The EU’s chief negotiator, Michel Barnier said it was “time to turn good intentions into legal text”, in order for the EU to back the UK’s Brexit proposals at the summit on Thursday. Barnier said that he expected to share the legal text by the end of the day yesterday.
Boris Johnson met with French President Emmanual Macron yesterday. Reportedly, both leaders agreed that any further delays should be avoided if possible, and said that there had been “positive momentum” with talks. However, they did both acknowledge that there are “many hurdles” left.
Today we will see a series of economic data released for the UK. However, the pound is likely to be influenced by Brexit news.
