The US dollar has now fallen to a three-year low and yesterday the pound climbed to as high as $1.3836, its strongest since June 2016.
Over the last two years sterling has been one of the most talked about currencies due to the volatility caused by the Brexit vote. As many forecasters predicted, the pound suffered substantial reverses losses which was expected due to the uncertainty the vote created.
But now sterling has started its recovery against most of the G10 currencies as a softer version of Brexit by the Theresa May Government looks increasingly likely, according to market analysts.
Last year EU citizens rights, the EU divorce bill and the Irish Border agreements were agreed in principle paving the way for Trade talks. Those negotiations have now begun and the plan is to have the Trade deal done in eight months time, by next October.
Meanwhile the dollar has fallen to a three-year low against other major currencies with the Euro edging back after shaking off a setback to Chancellor Angela Merkel’s chances of forging a coalition in Germany.
Yesterday, the pound climbed as high as $1.3836, and today was little changed on the day at $1.3792. At one point since the Brexit Referendum it had fallen to as low as $1.23 against the dollar.
