Pound hits 22-month peak against the Euro on Brexit news

Mail Online | 3/12/2019 | Tim Stickings For Mailonline
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The British pound hit a 22-month peak against the euro last night after Theresa May said she had secured 'legally binding changes' to her Brexit deal.

Sterling peaked at €1.17 in the moments after David Lidington announced the Brexit breakthrough in the House of Commons.

Rise - Pound - Level - Spring - Mrs

The rise took the pound to its highest level since the spring of 2017, before Mrs May lost her majority at the snap general election.

Investors will have to wait until Tuesday to see whether the changes to the Brexit deal are enough to take Mrs May's agreement over the line in the House of Commons.

Pound - Dollar - MPs - Update

The pound also spiked against the dollar after MPs were given the latest update, reaching $1.33 shortly after 10pm.

Prime Minister Theresa May said she 'passionately believed' in her Brexit deal and had now addressed the concerns raised by Parliament in January over the Northern Irish backstop.

Backstop - Attempt - UK - Backstop - EU

She said she had ensured there would be 'no indefinite backstop' and any attempt to keep the UK in the backstop by the EU would be dealt with by an 'arbitration mechanism'.

European Commission president Jean-Claude Juncker said: 'Our agreement provides meaningful clarifications and legal guarantees to the Withdrawal Agreement and backstop.

Stone - Mind - Work - Hand

'We left no stone unturned, our mind has always been open, our work always creative and our hand has always been outstretched.

'It is in this spirit that today the...
(Excerpt) Read more at: Mail Online
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