GBPUSD soars as Merkel hints at backstop solution

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.

20 May 2026, 19:24

URGENT: Hawkish FOMC minutes fail to halt market gains

20 May 2026, 19:00

Daily Summary: 6% Oil Declines Fuel Stock Gains

20 May 2026, 07:57

UK inflation drops, but for how long, as Reeves tries to impose price caps on food

20 May 2026, 07:11

Nvidia earnings preview

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