The best regulated crypto exchange
Find out why?

BREXIT MARKET ROUND-UP: What happened on the day deal was agreed?

By Ramla Soni

Lawmakers will vote on Boris Johnson’s Brexit deal this Saturday and if not passed Johnson will be forced to ask for a Brexit delay beyond October 31

The pound came within touching distance of $1.30 ($1.2990) for the first time since May after the UK and EU declared that a Brexit deal has been reached.

The FTSE 100 closed at 7,182.32, jumping 0.20 per cent. UK Gilts, German Bunds, gold and most other safe havens also rebounded after selling off, Reuters reported.

However, the pound began to lose ground (falling back below $1.28) by early afternoon after Northern Ireland’s Democratic Unionist Party said it will vote against the Brexit proposals, leading to further uncertainty on whether Boris Johnson’s deal will pass Parliament.

There was a similar pattern against the euro. At first the pound jumped above €1.16, before falling back to stand at €1.1525.

Though the deal remains to be approved by British lawmakers, traders briefly sent sterling and the euro up by more than 1pc and 0.5pc respectively.

The euro has fallen more than 3pc so far this year, but hopes of a Brexit deal this week has dragged the euro out of a downward spiral and pushed it above $1.11 for the first time in a month.

European stocks increased all round. Germany’s DAX rallied 0.5pc while Ireland’s gained 0.3pc.

Mr Johnson has said his Government respects the law but that Britain will leave the EU on October 31 no matter what.

Johnson and Juncker say Brexit deal is done: now the hard part begins

What commentators are saying about the Brexit deal

Tokenised securities are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how tokenised securities and leverage work and whether you can afford to take the high risk of losing your money. Nothing in the above article should be regarded as a recommendation to trade generally, to trade on a particular platform or to trade in a particular asset. Asset prices can go down as well as up and past performance is not a guide to future performance. Investors and traders should thoroughly research an asset or strategy before making any trading or investment decision and if necessary seek professional advice.

Subscribe to news
iMac Image
The most beautiful trading app
google play storeapple store
iPhone Image
iPhone Image