The pound is yo-yoing amid the bumps in the Brexit negotiations.
It rebounded, Monday, nearly 1.5% to 1.34 dollars, on new hopes of a free trade agreement, after plunging at the end of last week because of the growing panic around a "No deal".
“The past two weeks have reminded markets of the imminent Brexit risk, which had largely taken a back seat this year, to the consequences of the pandemic,”
said Lee Hardman, foreign exchange analyst for the bank MUFG in London.
To read also:
“Brexit: the art of the“ no deal ””
After last week's volatility, forex traders are determined to believe in an amicable solution between the UK and the EU on their future trading rules.
"The market is betting on a deal,"
notes Vasileios Gkionakis, head of foreign exchange strategy at Lombard Odier.
"There is movement, that's good,"
said the President of the European Commission, Ursula von der Leyen, on Monday.
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