The Great Britain pound gained on its most-traded rivals today on the reports that the United Kingdom is willing to compromise to reach a trade deal with the European Union. The currency has trimmed its gains by now but was trading above the opening level against most peers, though retreated to the opening level versus the US dollar.
According to reports, Britain is willing to keep borders between Northern Ireland and the Irish Republic open for traveling and trade if not better solution could be found before the Brexit deadline. In exchange, the UK wants full access to the EU customs union.
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose to 53.8 in September from the upwardly revised figure of 53.0 in August. Analysts had expected a drop to 52.6.
Now, traders wait for the release of the construction PMI on Tuesday and the services PMI on Wednesday.
GBP/USD was near the opening level of 1.3036 as of 15:55 GMT today after rising to the daily high of 1.3115 earlier. EUR/GBP dropped from 0.8906 to 0.8878, reaching the low of 0.8857 intraday. GBP/JPY opened at 148.26, rose to the daily high of 149.44, but backed off to 148.50 later.
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