tyb
Sterling jumps 1.7% as Brexit talks resume
Sterling soared on Wednesday to a six-week high and 1.7% on the day against the U.S. dollar after a Bloomberg report that Brexit negotiations were due to start again after halting abruptly last week. The report also said Britain and the European Union would aim to reach a new trade deal by mid-November.
“There has definitely been a narrowing in the gap since the UK shut the door last Friday. This is a positive and indicates that a deal is still more likely than not, though we would be cautious about assuming anything at this stage,” said Neil Wilson, chief market analyst for Markets.com. The pound was on an uphill trajectory already on Wednesday after EU Brexit negotiator Michel Barnier told EU lawmakers a trade deal with Britain was still possible. Barnier said a deal was “within reach” if both sides work hard to overcome the sticking points in the coming days. “Time is of the essence … Along with our British counterparts, we must find solutions to the most difficult areas,” he told the European Parliament. The pound was last at $1.3165, its highest since Sept. 8. The British currency also rose 1.2% against the euro to 90.25 pence.
The EU and Britain have exhorted each other this week to compromise to avoid a disruptive finale to the Brexit drama that would add to economic pain from the coronavirus crisis. “The market doesn’t sit there thinking ‘there isn’t going to be a deal, we should be trading at $1.25’. The market wants to rally. Any positive soundbites that do come out are being jumped on as a reason to buy,” Broux said. Trading bots or ‘algos’ responding to the news story may also have helped push the pound higher, he said, while positive Brexit news could prompt hedge funds to offload some of their sterling short positions as well, adding to gains. The rejection by the UK parliament’s upper house of draft legislation that has infuriated the EU because it would give the British government the right to override parts of their Brexit Withdrawal Agreement had given the pound an early boost. The Internal Market Bill would have broken the law, the House of Lords said. Analysts said that could aid negotiations.
“Despite all the recent Brexit noise, we still expect a ‘thin’ agreement at the last minute,” said Christopher Dembik, head of macro analysis at Saxo Bank. “At the end of the day, we think the currency market is right, there will be a deal.” A post-Brexit transition arrangement expires in 10 weeks, on Dec. 31. Broux saw a 50-50 chance of a deal being struck, probably by the end of November. Britain is also dealing with rising coronavirus cases that could prompt further restrictions on households and businesses. Britain’s government borrowing in the first half of the financial year was more than six times higher than before the COVID pandemic, official figures showed on Wednesday, taking public debt to its highest since 1960.
Annual inflation, meanwhile, rose 0.5% in September, up from 0.2% in August, driven by transport costs and higher restaurant prices after a government subsidy scheme ended.
https://www.reuters.com/article/britain-sterling-close/update-3-sterling-jumps-1-7-as-brexit-talks-resume-idUSL8N2HC3G3
https://www.marketwatch.com/investing/currency/GBPUSD
go ahead..got a bun going will attach to this
#14302
>>11189783, >>11189680 request for notenaker and d'oh
notables, not endorsements
>>11189690 CHILD SEXUAL ABUSE STATISTICS - PROVIDED BY DARKNESS TO LIGHT
>>11189691 Secret Service Travel Records Confirm Hunter Biden Trips Detailed In Emails-thefederalist
>>11189717 Bannon on 17
>>11189711 Hillbags Twat "They didn't slip. They were pushed."
>>11189715 KANSAS Live
>>11189733 The History of OxyContin-treatmentsolutions.com
>>11189793 Chanel Rion OAN "reporters have now viewed the emails, photos, and videos on the #HunterBiden hard drive."
>>11189798 Sterling jumps 1.7% as Brexit talks resume-reuters
>>11189827 US Senate will Vote to Confirm Amy Coney Barrett to Supreme Court on Hillary Clinton’s Birthday-gatewaypundit
>>11189830, >>11189842 Herridge@CBS "Senate oversight asking for records on Hunter Biden travel"
>>11189887 Brennan Twat "Moscow was once the world’s best & most persistent purveyor of disinformation…."
>>11189880 Pope endorses same-sex civil unions in new documentary film
>>11189895 U.S.Secret Service Twat "Do you live near Nashville, TN?"
>>11189912 redacted name on Hunter's text is NATALIE BIDEN
>>11189992 Report Shows More than 40% of Florida's Covid-19 Deaths May Not Merit that Classification-api
Baker..are you back?
here's current to your post
#14302
>>11189783 request for notenaker
notables, not endorsements
>>11189690 CHILD SEXUAL ABUSE STATISTICS - PROVIDED BY DARKNESS TO LIGHT
>>11189691 Secret Service Travel Records Confirm Hunter Biden Trips Detailed In Emails-thefederalist
>>11189717 Bannon on 17
>>11189711 Hillbags Twat "They didn't slip. They were pushed."
>>11189715 KANSAS Live
>>11189733 The History of OxyContin-treatmentsolutions.com
>>11189793 Chanel Rion OAN "reporters have now viewed the emails, photos, and videos on the #HunterBiden hard drive."
>>11189798 Sterling jumps 1.7% as Brexit talks resume-reuters
>>11189827 US Senate will Vote to Confirm Amy Coney Barrett to Supreme Court on Hillary Clinton’s Birthday-gatewaypundit
>>11189830, >>11189842, >>11190049 Herridge@CBS "Senate oversight asking for records on Hunter Biden travel"
>>11189887 Brennan Twat "Moscow was once the world’s best & most persistent purveyor of disinformation…."
>>11189880 Pope endorses same-sex civil unions in new documentary film
>>11189895 U.S.Secret Service Twat "Do you live near Nashville, TN?"
>>11189912 redacted name on Hunter's text is NATALIE BIDEN
>>11189992 Report Shows More than 40% of Florida's Covid-19 Deaths May Not Merit that Classification-api
>>11190040, >>11190104 Disturbing deepfake tool on popular messaging app Telegram is forging NUDE images of underage girls from clothed photos on their social media-dailymail
>>11190060 Justice Dept Twat “Just as the Department prosecutes illicit drug traffickers, the Department is committed to doing the same with respect to abuse and diversion of prescription opioids.– DAG Rosen"
>>11190099, >>11190114 Op Ed "This Is How the Left's Power Structure Collapses"
>>11190102 Hillbags Twat "Vote for an end to this jaw-dropping corruption."
>>11190118 U.S. Navy Twat "Special delivery Package"
>>11190137 Joe Biden Broke the Law by NOT Notifying Officials of Hunter’s Naked Crack Smoking and Sexual Abuse of Minors (VIDEO)-gatewaypundit
>>11190153, >>11190176, >>11190198 Haitian Migrants Surging Into U.S., Say Feds in Texas-breitbart
>>11190212 K. McEnany reacts to being 'censored' on twatter
may be some dups in there from earlier…
o7