Sterling at one-month high against euro after UK Brexit concession reports

Sterling has rebounded after reports the UK is to concede to EU negotiators that there will be no divergence of the rules covering the EU single market and customs union on the island of Ireland post Brexit.


By 3.51pm sterling was up 0.7% against the euro at £0.8763, the highest the pound has been against the single currency since the end of October.

At the end of August the euro had been as high as 92.6 pence, well ahead of the pre-Brexit exchange rate of 76.5 pence.

Earlier today, the pound had slipped against a stronger dollar as well as the euro, as investors awaited the outcome of a summit in Brussels where British Prime Minister Theresa May hoped to break a deadlock in Brexit talks with a new divorce offer.
 [rte.ie]
 4/12/17
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