EU member states have started to prepare procedures for a new trade deal from January 1, if one is agreed. It seems that a Brexit deal is imminent amid multiple reports from British journalists.
The Sun's Harry Cole says that a "Brexit deal is in sight" He adds that a row over batteries is holding up the final accord.
GBP/USD has jumped above 1.35, zooming in on the Sunday gap. Cable closed the week at 1.3521 on Friday and it is hitting that mark.
Here is the move on pound/dollar:
-637443300976734579.png)
Update: The Financial Time's Sam Flemming also reports that recent progress in talks raises hopes of an imminent deal.
Looking at the four-hour chart, the Relative Strength Index is well below 70, far from overbought territory and allowing the cable to run higher.
-637443309382493491.png)
Here is the tweet from Cole:
JUST IN: Brexit deal could be shook on today but for a last minute row about.... BATTERIES: https://t.co/RuoOdXNYsy
— Harry Cole (@MrHarryCole) December 23, 2020
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD looks at the Fed for near-term direction
AUD/USD managed well to maintain its positive bias on Tuesday despite the decent recovery in the Greenback as market participants largely anticipated the start of the Fed’s easing cycle on Wednesday.
EUR/USD keeps its bullish stance unchanged
Despite Tuesday’s corrective decline, EUR/USD remained poised to extend its upside impulse in the short term, as investors continued to expect the Fed to reduce its interest rates by 50 bps at its September 18 meeting.
Gold under mild pressure near $2,560
Gold stays under modest bearish pressure on Tuesday and trades below $2,580. The benchmark 10-year US Treasury bond yield holds steady above 3.6% ahead of the Fed's policy announcements on Wednesday, making it difficult for XAU/USD to gather bullish momentum.
XRP eyes return above $0.60 with pro-crypto attorney lending support to Ripple investors for their losses
Ripple (XRP) holds steady above $0.5800, an important support level for the asset on Tuesday. The altcoin gears up for recovery likely in response to positive developments in the project. XRP trades at $0.5860 at the time of writing.
Why the Fed is set to cut interest rates and what does that mean Premium
The Fed is expected to cut interest rates on Wednesday. This is a crucial event as it directly affects families and businesses in the United States (US) – but also abroad given the importance of the US as the world’s largest economy.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.