The pound strengthened against both the euro and the dollar yesterday, mainly due to month and quarter-end flows when traders give their final readings, sometimes causing market volatility.
It is also looking stronger this morning due to signs that the EU and UK could be closing a deal on fisheries – an issue that has been a sticking point in negotiations since they began. UK Chief Negotiator, David Frost, announced that a fisheries cooperation agreement is to be signed with Norway, which is a necessary step towards an agreement with the EU.
The UK has also offered the EU a three-year plan to scale back their fishing rights in British waters from 2021 to 2024.
The House of Commons passed the Internal Market Bill yesterday and it now sits with the House of Lords.
