XE Market Analysis: Europe – Dec 14, 2020

Comments are off

The pound has rallied by over 1% against the dollar and yen, and by nearly 1% against the euro. This comes with the EU and UK announcing agreeing to extend trade negotiations. Leaders had last week set yesterday as being the make or break moment. Neither side was willing to walk away, and evidently both sides see that a deal is worth pursuing. A joint statement issued on Sunday was upbeat in tone, and was notable for not mentioning that large differences remained. No new time limit was given. The only legal deadline is December 31.