The Brexit issue continues to steal market focus on trading today, showing the pound sterling continues to rise higher in the European session ahead of the announcement of the outcome of trade negotiations by the UK and the European Union (EU).
The pound sterling strengthened around a 2-and-a-half-year high of 0.6% against the US dollar following Irish Foreign Minister Simon Coveney's statement that a deal is expected to be reached today.
The currency has risen more than 1% since the UK and EU reported a deal between London and Brussels was approaching on Wednesday.
Until this moment (5.30 pm Malaysian time), discussions between the two parties are reportedly still ongoing. Coveney said the last hurdle related to the fishing issue had prevented the agreement from being reached, but an announcement on the deal is expected to be made today.
Meanwhile in a separate report, Sky News reporter Joe Pike conveyed good news that has driven the pound sterling rise to the price level of 1.36000.
According to Joe Pike in his tweet, two senior parliamentary sources said that the UK Parliament is expected to meet and agree on a Brexit deal on 30 December.
Investors are now looking forward to official confirmation of the possibility of a Brexit trade agreement. Any news on Brexit developments before the big announcement is made, is expected to continue to affect the movement of the pound.
