GBP/USD Surges Above 1.25

by Sep 20, 2019Market Reviews

GBP/USD above 1.2500

European Commission President Juncker told the UK on Thursday (September 19), “We can reach an agreement on the Brexit.”

According to British Sky News, Juncker believes that the Brexit agreement can be confirmed by October 31.

Juncker said that the UK’s non-agreement to withdraw from Europe will have “disastrous consequences” and said that he is “making every effort to reach an agreement.” He also stated that if the requirements of the security agreement can be met through alternative arrangements, then we do not need a security agreement.

In an exclusive interview with British Sky TV Sophy Ridge, Juncker confirmed that British Prime Minister Johnson submitted a document to him, outlining the draft of the new Brexit agreement in the UK.

However, Juncker said the letters were delivered late Wednesday night, and he has not read them yet.

After the news came, the British pound against the US dollar surged about 70 points in short-term, the day rose more than 0.7%, refreshing the day high to 1.2552. Also, the euro against the British pound fell nearly 40 points to 1.8807.

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