Pound jumps sharply against euro and dollar as Boris Johnson meets with French President Emmanuel Macron Sterling has declined over past months as traders’ fears of a no-deal Brexit increase France and Germany both beat expectations in a closely-watched economic survey this morning, but analysts warned eurozone sentiment is at a six-year low Mr Johnson should remind Macron of these three economic truths over lunch Ambrose Evans-Pritchard: We mustn’t leave trade hostage to Channel choke-point 5:34PM Wrap-up: Pound’s star turn does FTSE no favours Undoubtedly, there’s been some good money made on the currency markets over the last week. Short interest in the pound dropped last week, and anyone who cashed out a bet against sterling should be feeling smug now. The pound is riding high against other currencies — marginally up, and probably worth a few euros if you’ve waited until the last minute to take a trip to the continent this summer. There’s not much reason to expect the euphoria can last, however: people have jumped on Boris Johnson’s supposed 30-day deadline to find alternatives to the Irish backstop, but Angela Merkel has played those comments down today. The practical situation remains unchanged: the UK is heading for a no-deal exit… Read full this story
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