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Sterling Sits Tight as Investors Await Further Brexit Progress


Thursday, 11 October 2018 17:01 WIB

poundSterling,Poundsterling


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The pound traded flat on Thursday despite signs the EU and Britain may soon agree a Brexit deal, with investors cautious about the prospect of resolving the Ireland border issue.

Hopes are building that a Brexit deal can be reached before an EU summit on Oct. 18.

European Union Brexit negotiator Michel Barnier said on Wednesday that 80-85 percent of the withdrawal deal was agreed and sterling rose as some investors unwound short bets on the currency.

But sterling on Thursday traded flat against the dollar at $1.3192, close to a 3-1/2 month high of $1.3244. It fell 0.3 percent versus the euro to 87.29 pence.

Source : Reuters


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