The British Pound held steady near its highest level in a month, after rising hopes of a deal before Brexit, prompting investors to cut bets on GBP, to hit the highest level against the US dollar since the beginning of this month at 1.3042.
Michel Barnier, the EU's chief negotiator, said he is ready to make an unprecedented deal for Brexit, which strongly supported the pound. Barnier is meeting with the British Brexit minister today to work on speeding up the talks. Despite strong gains, sterling is on its way to record a fifth straight month of declining.
EUR has started to retreat after reaching its highest level since late July at 1.1733, as concerns over the escalating trade tension between the United States and the European Union. EURUSD currently trades at 1.1650 levels.
Today, Mexico is expected to join the US-Canadian talks, which lasted late on Thursday, which would allow resumption of the trilateral talks, which have been suspended for two months. An agreement announced earlier this week renewed optimism about a deal on the NAFTA reform.
