Pound rises after reaching an agreement on Brexit next week

The value of the British pound improved after a report that the European Union and Britain could reach an agreement next week regarding the future of trade and security relations between them, as the value of the pound rose by 0.6% to reach $ 1,3272.

The pound is expected to strengthen further if a free trade agreement is reached, reaching $1.35 by mid-2021, a level the currency has not reached since December 2019.

Officials are planning for a possible solution to be announced on Monday as the two sides approach an agreement, and optimism for a deal has helped the pound appreciate by 3% in the current quarter, although time is near for the British and European Parliament to ratify the terms of the agreement before the transition period ends in December 31 and Britain’s exit from the European Union.

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