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Rate Alert: Pound surges to 3-week high

Pound Sterling has jumped to a 3-week high against the Euro and US Dollar.

Hopes are rising that a Brexit solution may be possible before the 31 October deadline.

Both German Chancellor, Angel Merkel, and Boris Johnson have suggested that both sides could find a solution to the “Irish backstop” in the next 30 days.

Politics, they say, is the art of compromise. Perhaps both sides are starting to fear the consequences of a no-deal.

Of course, there’s a big difference between saying and doing.

According to Reuters, a top official in French President Manuel Macron’s office said that no-deal is still the most likely outcome.

One thing is for sure, there will be plenty more twists and turns over the coming weeks and months.