Pound soars to highest level since Brexit vote as hopes for a good trade deal rise

THE POUND soared to its highest level since the EU referendum today thanks to new optimism on Brexit.

Investors expressed joy as leaders in Spain and Holland agreed a plan to strike up a close relationship with Britain after we quit the EU.

The prospect of a win-win Brexit trade deal reassured markets that we won't take an economic hit by leaving.

Sterling reached $1.37 today – its greatest value since the pound tumbled in the hours after Britain voted for Brexit in June 2016.

A year ago, the currency stood at just over $1.20.

A high currency is usually seen as a sign of a healthy economy, because it signals investors expect to put money into the country in future.

The rising pound could help ease inflation by making it less expensive to import goods to Britain from abroad.

The leap in sterling was sparked by reports of secret meetings between the Spanish and Dutch economy ministers.

The two men met this week to discuss Brexit, according to Bloomberg – and agreed they want to keep close ties to Britain.

Both countries are firmly against any blocks on trade between the UK and Europe.

They fear that if Britain is barred from trading freely with the EU, it will damage their own economies just as much as ours.

The news suggests Theresa May is likely to succeed in her bid to get a bespoke trade deal, which combines free exchange of goods and services with the right to strike new regulations different to Europe's.

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Source: https://www.thesun.co.uk/news/5330280/pound-soars-to-highest-level-since-brexit-vote-as-hopes-for-a-good-trade-deal-rise/

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