More on Brexit Divorce Deal Possibility

GBP/EUR Jumps as Investor Sentiment Increases on Brexit Divorce Deal Possibility

Reports the UK could be one step closer to a Brexit divorce deal has buoyed the pound against other major currencies this morning, including the euro (GBP/EUR). Sterling rallied as it came to light a £50 billion divorce settlement could be on the table which may appease EU negotiators that have set a 4th December deadline for the UK to show ‘sufficient progress’ has been made. The UK needs to provide clarity on not only the amount it’s willing to pay to leave the currency bloc, but also the rights of EU citizens, and the Irish border—the latter may be a tricky topic to resolve.

If the UK could move onto trade talks with the EU by the end of the year, sterling would likely have some support as the chance of a disorderly Brexit in 2019 slims.

Meanwhile in the Eurozone, there’s been some positive news in the form of ecostats. Employment expectations in the currency bloc have boomed to hit a 32-year high. Additionally, Eurozone companies are currently the most optimistic they’ve been since the Global Financial Crisis (GFC). The European Commission reported an increase in both business and consumer confidence in the month of November, with consumer confidence hitting its highest level since January 2001.

There’s still some influential ecostats due out in the rest of the week, including German inflation numbers later today followed by Eurozone labour market and inflation data on Thursday. UK manufacturing numbers will be out on Friday. However, Brexit developments ahead of the 4th December meeting are likely to be the most influential source of movement for sterling at present.

The GBP/EUR exchange rate has hit highs of 1.1326 in today’s session.

Current rates:

Wednesday 29th November 2017 at 12:00

£1.00 GBP = 1.1326 EURO

£1.00 GBP = 1.3404 USD

£1.00 GBP = 1.7692 AUD

£1.00 GBP = 1.9402 NZD

£1.00 GBP = 1.7199 CAD

£1.00 GBP = 18.3252 ZAR

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Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

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Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

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