The British currency was the top performer of the week. There was a lively week for the pound, which began with a public row between London and Brussels.
Tag: brexit
Sterling climbed to a new 3-1/2-month peak against the euro and added to gains versus the greenback on Brexit deal hopes.
The Sterling recovered, scaling a 2-month high against the single currency, and edged up temporarily against the dollar. EU-UK is close to a deal regarding Brexit.
The Sterling dropped further to a three-week low on Wednesday as Prime Minister Theresa May defended once more her Brexit plans. Despite few new “findings” in her speech which may lead towards the one or the other direction, the response of the market was direct but not so strong.
USMCA is the new trade deal reached by the USA and Canada, replacing the outdated NAFTA. USMCA will constitute a single agreement with the bilateral agreement between Mexico and the USA held in August.