Pound surges to two-month high; markets may be reading too much into Juncker’s words

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The Pound surged past the psychologically-important 1.25 level, reaching its highest in two months versus the Dollar, on hopes that a Brexit deal can be reached before the October 31 deadline. With European Commission President Jean-Claude Juncker reportedly saying that he’s doing “everything” to deter a no-deal Brexit, the statement is lending hope to investors that such a worst-case scenario may be avoided.

Markets are at risk however of reading too much into Juncker’s comment, and it remains to be seen whether the Pound can push on from current levels. Should Juncker’s perceived… Read More:

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