XE Market Analysis: Europe – Feb 26, 2019

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The Pound has rallied on UK PM May’s reported pivot on Brexit amid reports that she will offer a route to delay the Brexit process beyond March 29. The BBC reports that about a dozen ministers have threatened to resign unless this happens. Sterling, which has been trading at a significant discount since the vote to leave the EU in June 2016, is showing a 0.4% gain on the day against both the Dollar and Euro, although a little off its highs. Cable posted a one-month high at 1.3161, and EUR-GBP a one-month low, at 0.8629.