Sterling Explodes to 20 Month High

Pound Sterling has surged to 20 month highs against the Euro.

The reason is investors believe the chances of a hard ‘no-deal’ Brexit are falling fast, which is positive for the Pound in the short term.

This week is shaping up to be another critical week.

On Tuesday, a further crunch vote will be held in Parliament on Theresa May’s ‘Plan B’ Brexit deal.

Rumours are the DUP might back the PM’s new deal.

Investors seem happy to ignore the fact that Brussels opposes her changes.

In other words, the whole thing is still completely up in the air.

As the Brexit deadline approaches, we expect Sterling to react more dramatically to news flow as time runs out.

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