The pound gained ground against its peers yesterday as sentiment towards the UK improved following a deal with the EU concerning Nothern Ireland’s trading arrangements. This subject has remained an issue since the real Brexit debate began back in 2015. It’s hoped such a deal will bring a warmer feel around the relationship between the UK and EU.
Sterling jumped above the $1.20 level and edged towards $1.21 in what was a solid 1.10% gain on the day against the US dollar. GBPEUR also marched north, probing toward the €1.14 figure.
As Tuesday’s European trading session commences the US will provide the most significant data to watch out for. Releases include consumer confidence, Richmond manufacturing, Chicago PMI, and house price data.
Written by Viv Savani. 8:17am, February 28th 2023
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