The pound continued to rise during the Asian session amid rising expectations that an agreement in trade negotiations between the UK and the European Union (EU) was approaching.
Most recently, The Sun reported that an agreement between the UK and the EU is expected to be reached on London morning, where Prime Minister Boris Johnson will make an announcement in a press conference around 11am.
According to a statement from an official in Brussels, negotiations are said to be in the process of being detailed and no final agreement has been finalized.
The pound sterling has strengthened in previous trading sessions after PM Johnson clarified to his cabinet on the progress of negotiations in Brussels, but has fluctuated slightly in the last 24 hours with regard to announcement times.
In the Asian session, the pound strengthened again around its 2-and-a-half-year high against the USD trading at 1.35400.
Brexit headlines have overshadowed US President Donald Trump’s demands for changes in the coronavirus stimulus bill, which effectively threatens next week’s government shutdown.
Against most major currencies, the dollar index, which measures the strength of the greenback, traded at 90.20.
