Sterling firms following announcement of Brexit

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Rather than compounding the declining value of sterling against the euro, the announcement of the government’s plans for exiting the EU have instead provided some reassurance to markets.

This pushed sterling back above €1.15 after a week of declining values.

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The gain is mostly a reflection that there is now some certainty around the government’s priorities, making market traders somewhat less nervous. The largest boost to the pound was reported to be in response to the announcement that parliament would be given a vote on the final terms of the exit plan.

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Millie Askew, Analyst
millie.askew@ahdb.org.uk, 024 7647 8968