Pound Focus: Irish Prime Minister Meets Johnson

The pound sterling takes the spotlight in sessions as it strengthens from news about the Irish Prime Minister. Yesterday, an unexpected meeting between the Irish PM and the British PM caused a wave of Brexit hope.

With that news, the British pound managed to edge up against the greenback, Japanese yen, and Swiss franc in sessions.

The UK’s fading hope for a good Brexit deal with the European Union perked up after the unforeseen upbeat meeting.

Irish Prime Minister Leo Varadkar and British Prime Minister Boris Johnson said that the agreement is still possible.

The two leaders met at a hotel just outside Liverpool, England, on Thursday. Varadkar and Johnson discussed the United Kingdom’s proposal to the EU.

The plan would take Northern Ireland away from the European customs union, alongside Britain.

Despite its exclusion from the customs, Northern Ireland would still follow other European Union regulations.

Not Strong Enough

Despite the news from the Irish Prime Minister, the pound still lacks enough fuel to run further in sessions.

The pound sterling to the greenback exchange rate went up by 0.14% or 0.0017 points in today’s trading. The pair currently trades for $1.2457 and has peaked from $1.2424 and $1.2467 in sessions.

Meanwhile, the GBP CHF trading pair rose 0.15% or 0.0019 points in sessions. The pair climbed to ranges from Fr1.2376 to Fr1.2441 today.

And the GBP JPY pair rallied 0.20% or 0.26 points today, plus the pair even extended its run from ¥134.01 to ¥134.66.

Technical talks about Brexit negotiations stalled, days before a chance in the European summit. In previous interviews, the Irish prime minister said that it would be difficult to secure an agreement by next week.

However, after the unexpected meeting with British Prime Minister Johnson, Varadkar’s sudden shift in stance revived Brexit’s hopes.

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