Could a Brexit deal be reached in the next few weeks and the impact on the Pound vs the Euro

EUR GBP Moves Higher Ahead of UK GDP Update

The Pound has hit its best level to buy Euros in over three months as the Brexit talks appear to be moving on after hitting a stalemate just two weeks ago.

Head of the EU Commission Jean-Claude Juncker has suggested that although a deal may not be a reached this month the chances of it being agreed in November are improving.

This has given the Pound some much needed positive gains vs the single currency creating some excellent opportunities to buy Euros if you’re in the process of buying a property in Europe.

With the UK set to leave the European Union in less than six months at the moment there has still been no resolution as to the Irish border issue but even that over the last few days seems to be getting somewhere.

In my personal opinion I think the Irish border issue will get resolved and will be simply a matter of time as I cannot see a Prime Minister in the UK losing control of the nation as this could cause a huge political problem and a big divide between the British mainland and Ireland.

Juncker went on to say that a no deal scenario ‘would not be good’ for either the UK or the European Union.

It appears as if both sides are in agreement that a deal must be reached and to me this is simply a matter of time.

There has been a huge amount of negativity surrounding the Brexit issue since the vote two years ago and I think we have seen a gradual change in sentiment in the last week and this has helped the Pound improve to almost 1.14 during Friday afternoon’s trading session.

Therefore, if you’re considering selling Euros and waiting for things to improve I think as and when a deal is reached we could see the Pound make some very quick positive gains in the weeks ahead so make sure you’re well prepared for a lot of movement in the weeks ahead especially with the EU summit due to take place on October 18th.

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