Brexit Negotiations

The Pound exchange rate complex was seen lower across the board in mid-morning trade in London as the Brexit saga took a new twist.

The staunch position of EU ministers revealed on Monday risks inflaming renewed tensions within Westminster, particularly among members of Prime Minister Theresa May’s own party.

A surge in soundbites from Brussels regarding their position on Brexit have emerged today - be aware that this could provide some volatility in Pound Sterling.

Pound Sterling is the day's best-performing major currency following a series of developments that all point toward a softening in the state of play around Brexit.

The British Pound could again be one a best-performing currency in 2018 argue analysts at a leading international financial services provider.

Pound Sterling tipped to go higher in 2018 as Brexit clarification improves sentiment.

A transition deal means a slower journey to a bad destination so if an agreement is struck in the new year, it will be unlikely to boost the economy’s performance.

"Sufficient Progress" has been declared but the rub for Sterling is that Brussels has thrown down another gauntlet for PM May with its Phase 2 guidelines.

Retail sales, "sufficient progress", the Bank of England and traders’ reactions to the “amendment 7” defeat of the government in parliament were the main events Thursday.

The "breakthrough" related rally to higher levels has not materialised for the Pound and Sterling bears are now beginning to re-emerge.

Pound Sterling is seen rising as a deal between the E.U. and U.K. over the first phase of Brexit negotiations has this morning been confirmed. We ask the analyst community where they see Sterling going from here.

U.K. Prime Minister Theresa May has worked the phones through the night and is this morning in Brussels with Secretary of State for Exiting the European Union David Davis to seal the deal on a finalising the first round of Brexit negotiations.

Reports that the U.K., Ireland and the E.U. are working through the night to try and reach a breakthrough on Brexit negotiations has seen buyers rush into the Pound.

"If we are wrong, the asymmetry seems in favour of a rather sharp fall in the GBP amidst a potential double risk of "no transition deal" and "a collapsed government," - Credit Suisse

With the debate over how to settle the Northern Irish border question still raging, Brexit Secretary David Davis is facing increasing pressure from a parliamentary committee to share DexEU analysis.

Both the E.U. and the U.K. will be better off buying more time and agreeing to at least a two-year extension - and this will be good news for Pound Sterling say Bank of America.

The Pound rose on earlier hopes that all issues - particularly the issue of the Irish border - had been solved. However, when news broke that no deal had in fact been reached, the currency fell back.

"EU leaders are preparing to offer a two-year Brexit transition deal as early as January after negotiators said that they were close to a breakthrough over the Northern Ireland border." - The Times.

Pound Sterling is seen heading back towards the top of its recent range against the Euro, but it could break to fresh multi-month highs before long.

Pound Sterling popped higher on further confirmation the E.U. and U.K. are making progress on Brexit negotiations with reports suggesting that agreement has been reached on the so-called divorce bill.