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The British Pound Soared Higher as reports in the German press that the EU may other the UK a two year Transition Period for Brexit. This is what P.M. May asked for, and reduces the chances of hard exit.

GBP 2 YR Transition

The rumored offer is said to be tied to meeting financial obligations to the EU. Barnier is going to ask EU ambassadors to support the proposal at a meeting on October 13, according to the report .

EURGBP broke its trend on the report.breaking .8920.

Source: Handelsblatt

From The Traders Community News Desk

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