Sterling Gains On Brexit Party Announcement – 11 November, 2019

The pound got a significant boost after the Brexit party made an announcement, helping the currency hold onto six month gains against the euro and 1% against the dollar. Brexit Party leader Nigel Farage said his party would be focusing on challenging anti-Brexit politicians, helping sterling reach as high as $1.2896 before easing to $1.2858. The British currency strengthened to its highest level since the beginning of May against the euro to 85.62 pence. Data released showed just how close the UK was to a recession in 2019 which boosted the pound 0.3% to $1.28 just ahead of Farage’s comments. The euro last stood at $1.1034, and the dollar was trading at 109.12 against the yen.