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[Reuters]

Sterling rallies after EU’s Barnier says UK Brexit deal 80-85 pct agreed

Hopes are building that a Brexit deal can be reached before an EU summit on Oct. 18 and sterling is benefiting as some investors unwind short bets on the currency.

Sterling rallies after EU's Barnier says UK Brexit deal 80-85 pct agreed

LONDON, Oct 10 (Reuters) – Sterling rose half a percent to trade above $1.32 on Wednesday after European Union Brexit negotiator Michel Barnier signalled progress on a deal with Britain over its withdrawal from the bloc, as well as on the crucial Irish border question.

Barnier said 80-85 percent of the withdrawal deal was agreed.

He also said the European Union wanted to carry out Irish border checks after Brexit “in the least intrusive way possible”. The Irish border has been a key sticking point in Brexit talks.

 

Read the article in full: Reuters

 

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