Pound Still Rides on Brexit Outcome

The ongoing Brexit talks on Friday weighed heavily on the Pound after it became likely that a deal was not going to happen. Despite progress being made, there is still a lot left to consider, and this placed pressure on the currency although, despite this, there was little in the way of movement throughout the day. Therefore, at the end of trading on Friday, the Pound finished the day at 1.0921 against the Euro and 1.3227 against the US Dollar according to the Foreign Exchange Market.

Talks of new coronavirus measures in Germany didn’t help the Euro on Friday after the biggest economy in Europe warned of a new lockdown in order to curb rising cases. The European Central Bank had offered to add to their stimulus program in order to support the economy although that didn’t offer much in the way of a boost for the currency.

The US Dollar lost some ground on Friday although the news of the Pfizer vaccine being considered safe did boost the safe-haven slightly. However, there is still hope that a stimulus package can be agreed on prior to the Federal Reserve’s monetary policy meeting this week.

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