Breaking news: GBPUSD surges above $1.27 on reports of draft Brexit deal

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There’s been a swift move higher in the pound in recent trade after news crossed the wires that EU and UK negotiators are closing in on a draft Brexit deal. Bloomberg citing two people with knowledge of the talks have reported this story although they do caution that it hinges on DUP support. The news has also contributed to a wider risk on move in other asset classes with the DE30 rallying to its highest level of the day above 12600 and Gold dropping to daily lows.

The pound has soared by over 100 pips in the last hour on the news with price trading up above the $1.27 handle to trade at levels not seen since June. Source: xStation

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