The pound jumps 1% against the euro, supported by two factors .. What are they?


Hopes that a coronavirus vaccine would put the British economy back on track and push the British pound to rise by as much as 1% against the euro today, Tuesday.

The sterling was also supported by comments from UK government officials that a post-Brexit trade agreement between Britain and the European Union is imminent, fueling hopes that the two sides will reach an agreement by the end of the year.

At 16:30 GMT, the sterling was trading at 89.35 pence per euro, up 0.40%, after it had jumped 1% earlier in the session to 88.85 pence.

The pound rose 0.46% against the US currency to $ 1.3221 after touching a two-month high of $ 1.3278.

Analysts said the pound could reach $ 1.40 by the end of the year if Britain and the European Union reached a trade deal this week, and if “the talk of negative interest rates fades.”


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