Merkel’s Comments Send Sterling Into The Green – 22 August, 2019

Comments from German Chancellor Angela Merkel led investors to believe that the problem surrounding the Irish border could be resolved before Britain is scheduled to leave the European Union on October 31, leading to the pound have one of its best days in months. With the currency being the subject of a great deal of uncertainty over the last few months, the news sent sterling higher with many hoping for a breakthrough in negotiations. Hitting a three week high, sterling last traded at a high of $1.2265 before settling at $1.2251, up 1.1% for the day. The pound rose as high as 90.29 pence against the euro, a three week high, last trading 1.1% higher to 90.49 pence.