This morning we had already reported on the current status of Brexit (please read here). A complicated situation, which will probably lead to new elections in the UK on 15th of October. This morning at 9am, the British Pound vs. the US Dollar was still quoted at 1.2217. And now only hours later it is quickly rising to 1.2340! The chart shows Pound vs USD since August 27th. On the one hand, many forex traders are currently jumping on the Pound euphoria of the last two days. On the other hand, there are also reports that the British government allegedly had “constructive” talks with the EU yesterday. Well, is that really true? We can doubt that. So far the British have produced a lot of hot air in Brussels. But no matter. For the currency market this is currently sufficient. The main thing is to push up quickly for short-term profits in trading?
Accordingly, the Euro is currently falling against the Pound (chart also since August 27th).