that sound you can hear is a loud sigh
of relief coming from trading floors
after a particularly testing couple of
weeks for the pound the currency started
September on a very dour notes
plunging under $1 20 as it appeared
increasingly likely that new Prime
Minister Boris Johnson would stick to
his pledge to take the UK out of the EU
without a deal if needs be at the end of
October the tighter the grip it appeared
to have on Parliament and on the brig's
it process the more the pound fell
hitting levels more usually associated
with the mid-1980s but abruptly
something has changed once MP started
jumping or being pushed from Johnson's
Conservative Party in greater numbers
and Parliament stood in the way of No
Deal plans Stirling started to recover
rumblings now about at least the
potential for a breakthrough on talks
with the EU have pushed the currency
higher still it's now trading above $1
20 for a four percent rise in 10 days
that's not to be sniffed at and it
reflects an absolutely consistent theme
ever since the 2016 referendum the
harder the brexit the harder the fall
for the currency with all that entails
for import costs and potential inflation
so what's next well again the further we
get away from the immediate prospect of
a No Deal brexit the higher the currency
is expected to climb whisper it but some
analysts even say the market is prepared
to stomach a Corbin government if that's
the way to get that done a real reversal
in sentiment the pound looks cheap after
its long period of stress and it's clear
that overseas companies are out there
looking for UK targets to buy the path
from here is for further gains but only
if a No Deal brigs it can be kept at bay
otherwise hold tight