GBPUSD soars as Merkel hints at backstop solution

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The GBPUSD currency pair has literally skyrocketed as Germany’s Angela Merkel said that finding backstop solution ahead of the Brexit date of 31 October was still possible. That’s the first clear sign that EU politicians might be willing to cooperate with Boris Johnson after all and certainly a massive positive for oversold pound. The pair leaped from 1.2150 to 1.2260 in a matter of minutes – the highest level in August.

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