THE pound has hit a five-month high against the Euro today after hopes began to raise over a Brexit deal being secured.
Sterling reached €1.1499 versus the single currency, a level last seen in May 2019.
The pound also climbed against the US dollar, up to $1.2633.
Sterling briefly touched €1.1499 versus the euro earlier this week as well.
It comes after optimism began to surge over the UK leaving the European Union on October 31 with a deal in place following comments from Michel Barnier.
The EU’s chief negotiator today said he believes an agreement “is still possible” this week as he arrived in Luxembourg for a meeting with fellow ministers.
He tweeted: “I have just debriefed EU27 Ministers in Luxembourg. Unity remains strong.
“We want an agreement that works for everybody: the whole #UK & whole #EU.
“On route back to Brussels to take stock w/ my colleagues. Talks are difficult but I believe an agreement is still possible.”
The pound reached its highest point of the year back in March when it hit €1.1777.
More to follow…
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