Brexit woes fade

The Pound made significant gains against the Euro during yesterday’s trading session, peaking at 1.1854 minutes before the markets opened this morning. Negative Euro sentiment appears to be a significant factor, as markets remain apprehensive towards the French elections that begin shortly.

The Brexit bill continues its debate in the House of Lords, and it looks as though the bill will pass with little ammendments. Economic data continues to outperform market expectations in the wake of the Brexit vote, and markets are beginning to calm their nerves as we enter Article 50 negotiations.

UK GDP figures up

Pound to Euro exchange rates begun clawing back gains made this morning, but remain steady around 1.1850 following stronger than expected GDP figures for Q4. The data came in .1% better than predicted which confirms that the UK economy remains in strong territory as we approach the final hurdle of the Brexit debate.

The UK are expected to begin an EU-exit as early as next week, and the Pound’s recent highs could begin to unravel as market uncertainty sweeps in.

There is little economic data released for the UK for the remainder of the week, however German GDP figures released tomorrow may boost the Euros position against the Pound.