LONDON MARKETS: British Pound Surges After Leaders Say There Could Be Brexit 'pathway'
October 10 2019 - 11:58AM
Dow Jones News
By Steve Goldstein, MarketWatch
The British pound rallied on Thursday after the leaders of the
U.K. and Ireland said there could be a pathway to an orderly exit
of Britain from the European Union.
British Prime Minister Boris Johnson and Irish leader Leo
Varadkar provided a status update on the issue after a private
lunch meeting in northwest England. "Both continue to believe that
a deal is in everybody's interest," they said in a joint statement.
"They agreed that they could see a pathway to a possible deal."
Read more on Johnson, Varadkar meeting
(http://www.marketwatch.com/story/johnson-varadkar-say-they-could-have-a-pathway-to-brexit-deal-2019-10-10).
The British pound rose to $1.2344 from $1.2206 on Wednesday, and
also rose strongly against the euro.
"Glimmers of hope are currently driving the currency. The recent
meeting between Boris Johnson and Leo Varadkar could be the
cornerstone for a further appreciation of the UK pound within the
next few days," said Marc-Andre Fongern, FX and macro strategist at
MAF Global Forex.
U.K. stocks meanwhile got a lift from President Donald Trump
announcing he would have a meeting with China's vice premier, which
was taken as a sign of progress in U.S.-China trade talks.
The FTSE 100 rose 0.5% to 7200.30.
(END) Dow Jones Newswires
October 10, 2019 11:43 ET (15:43 GMT)
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