"Privileged UK single market access" report boosts the Pound

Jarratt Davis

Special Consultant to the FPA
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Sentiment update for the New York trading session, 20th February 2018

During today's London Session, the main event was reports published on the Business Insider website that the European Parliament is preparing to call for a more flexible approach in future EU/UK negotiations.

More specifically, the European Parliament is to call for Britain to have privileged single market access after Brexit.

Following the reports, GBP strengthened across the board with GBPUSD briefly breaking back above the 1.40 handle; however, GBP strength has not been sustained with the majority of GBP pairs having pared most of GBP's initial strength.

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