XE Market Analysis: The Pound gains on Brexit hopes, still cautious as risks of no-deal cap gains

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OVERVIEW

  • Sterling gains against the euro and US Dollar, hitting 1.30 for the first time since August 6th.
  • US Dollar drops in the risk-on environment 
  • The Euro remained steady against the US Dollar

HIGHLIGHT

The Pound gained against the Euro and US Dollar, although the rise has been tempered by ongoing fears of a no-deal Brexit. Chief negotiator Barnier stated that the EU must also prepare for the possibility of a no-deal.