Pound Spikes Up On Trade Deal Hopes
23 Noviembre 2020 - 12:42AM
RTTF2
The pound firmed against its major counterparts in the European
session on Monday, as news that UK Prime Minister Boris Johnson is
considering to intervene in Brexit talks raised optimism about a
last ditch deal.
The Telegraph reported that Johnson is planning to speak to
European Commission President Ursula von der Leyen this week in an
attempt to "clear away final barriers" to a trade deal.
Markets speculate that a UK-EU Brexit deal was getting closer
despite uncertainty over key sticking points.
Talks will resume virtually today after members of the EU
negotiating team were diagnosed with COVID-19 last week.
European markets advanced on optimism over the possibility of an
early rollout of coronavirus vaccine after the Oxford University
and British pharmaceutical giant AstraZeneca announced that their
vaccine for the novel coronavirus could be around 90 percent
effective under one dosing regimen.
The pound appreciated to 1.3381 against the greenback, its
highest level since September 2. The pound is seen challenging
resistance around the 1.35 region.
The pound rose to near a 2-week high of 138.88 against the yen,
from Friday's closing value of 137.92. The pound is likely to
challenge resistance around the 140 level.
The GBP/CHF pair hit near a 2-week high of 1.2186, compared to
Friday's closing quote of 1.2100. The pound is poised to find
resistance around the 1.25 area.
The pound climbed to near a 2-week high of 0.8874 against the
euro, from last week's closing value of 0.8919. Next key resistance
for the currency is likely seen around the 0.86 region.
Flash survey data from IHS Markit showed that the euro area
private sector contracted sharply in November as member countries
reintroduced more restrictions to counter the spread of Covid-19
infection.
The composite output index plunged to a six-month low of 45.1
from the neutral 50.0 in October. The score was forecast to fall to
45.8.
Looking ahead, Markit's U.S. flash composite PMI for November is
scheduled for release in the New York session.
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