Sterling has reached a two-month high on the news Britain could pay up to £58bn in liabilities associated with its exit from the European Union, with a deal between UK and EU leaders reported to have been reached last night.
Sterling was trading at a high of 1.343 earlier this morning against the US dollar, up 0.4%. It was also up 0.4% against the euro to trade at 1.311. According to the Guardian and various national newspapers, Britain is believed to have agreed to the terms in order to move forward with trade negotiations. A bill could total between £53bn-£58bn but it is understood the final amount will be kept secret in order to avoid voter recrimination. Initial figures had pinned the divorce bill at £40bn-£48bn. Davis: '50/50 chance' of Brexit deal by December The figure is 13% of the £660bn t...
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