Pound erases losses on Barclay’s Brexit optimism

By Jeff Davies

Sterling traded slightly in the green against the dollar on Thursday as Stephen Barclay, the United Kingdom’s secretary of state for exiting the European Union, expressed optimism about the new round of negotiations. He told the BBC that talks about the backstop solution are moving “in the right direction” and brushed off the possibility for another referendum.

The Brexit minister claimed both sides have concerns about the issue and asserted any change in the deal would still contain a backstop. The pound climbed 0.06% to $1.2677 at 10:00 am CET, after dipping to $1.2598. The session high, at $1.26875, was the best level in three days.

The euro was still 0.06% stronger, changing hands for £0.89791, pulling back from a moderate early advance, to £0.90275. The UK currency was almost flat at 1.25764 Swiss francs and 0.29% in the green at ¥143.827.

Share Article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

In This Article