British Pound Soars as Predicted on Brexit Hopes

We wrote in our Global FX & Commodities Report Q4 2019 that Brexit’s finale was the key event for volatility and days later the pound has soared to its highest level since March.

Sterling has risen across the board versus the U.S. Dollar and the Euro and in our report we wrote the following about the versus the Japanese Yen: “Don’t be surprised if the Yen moves 1,000 pips from here… 140 would be the target. We have already seen 600 points of that move, with the potential for further gains if the Brexit deal is confirmed.

Positive talks between Irish Taoiseach Leo Varadkar and Boris Johnson have also been accompanied by a statement from Donald Tusk, who hinted that a deal was still possible.

If a deal is agreed this month, the pound will likely erase all post-referendum losses.

The Q4 FX & Commodity Report can be purchased here: