Rallying cry for the Pound
11 February 2020

Despite the cards being stacked against it, there was still some life in the Pound as it confounded the Brexit doomsters in a start of week rally. The week before last Sterling was down if not out, but buyers saw some potential amid the Brexit gloom and trading showed that investors do like Mondays.

Sterling rallied from a near three-month low in the Asian markets the UK currency bounced back to 1.2943 against the Dollar later in the day with the 1.30 level in sight as technical buying gained momentum over the EU news bearers. And with the March budget around the corner with some potential big spending plans the Pound could rally further.

Despite the barrage of headlines putting Sterling on the ropes, the Pound-to-Euro rate is fighting its corner at 1.1856 from its 1.1759 position over the past few weeks. Deal or no deal is the issue on the various negotiating tables with the opening gambits in the coming weeks and however extreme the position may be on both sides, a trade deal will be good for both currencies.  

Says Privalgo's William Stephenson "We think some kind deal will be struck. Yes, there will be caveats and interim agreements that are not well received in some financial quarters, but 'no deal' is out of bounds for both sides. 

Rallying cry for the Pound
11 February 2020

Despite the cards being stacked against it, there was still some life in the Pound as it confounded the Brexit doomsters in a start of week rally. The week before last Sterling was down if not out, but buyers saw some potential amid the Brexit gloom and trading showed that investors do like Mondays.

Sterling rallied from a near three-month low in the Asian markets the UK currency bounced back to 1.2943 against the Dollar later in the day with the 1.30 level in sight as technical buying gained momentum over the EU news bearers. And with the March budget around the corner with some potential big spending plans the Pound could rally further.

Despite the barrage of headlines putting Sterling on the ropes, the Pound-to-Euro rate is fighting its corner at 1.1856 from its 1.1759 position over the past few weeks. Deal or no deal is the issue on the various negotiating tables with the opening gambits in the coming weeks and however extreme the position may be on both sides, a trade deal will be good for both currencies.  

Says Privalgo's William Stephenson "We think some kind deal will be struck. Yes, there will be caveats and interim agreements that are not well received in some financial quarters, but 'no deal' is out of bounds for both sides. 

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