Sterling rises on hopes for Brexit deal.
Sterling retains the upbeat tone today under the effect of the continued widespread USD bearishness and the hopes that Britain will reach a Brexit trade deal with the European Union before its leaves EU in January. These hopes was raised by the recent positive comments from British government officials and also by the announcement that one of the architects of the Brexit project Dominic Cumming, was set to leave the government- adding to the probability the previous rigid stance by UK officials will be relaxed to help reach the much-awaited Brexit deal. Sterling sentiment also improved after Dave Ramsden (Bank of England Deputy Governor) said that positive news about COVID-19 vaccines could help to reduce the risks facing Britain’s economy.
Expect buyers on downward corrections.
Next resistance to watch 1.3310
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