Sterling Pound Rallies As Boris Johnson Acts to Save Brexit Talks

The  Sterling pound today rallied against the  dollar after the  British Prime Minister intervened to  try and  save the  Brexit talks, which seem to  be falling apart. The  GBP/USD today rallied higher despite the  lack of  macro releases from the  UK docket as  the  positive Brexit developments boosted investor sentiment towards the  pound.
The  GBP/USD currency pair today rallied from a  low of  1.2836 in  the  mid-Asian session to  a  high of  1.2953 during the  London session and  was trading near these highs at  the  time of  writing.
The currency pair’s rally was fueled by the upbeat investor mood, which drove the pound’s rally at the dollar’s expense. Boris Johnson‘s announcement that he had scheduled talks with the  President of  the  European Commission for  tomorrow drove the  pair higher. Johnson and  Ursula von der Lyen are set to  speak on  Saturday afternoon in  a  bid to  iron out the  main obstacles to  a  post-Brexit trade deal. Investors hope that talks between the  two leaders will build on  the  positive tone adopted by  UK top negotiator David Frost and  the  EU’s chief negotiator Michel Barnier.
The  cable fell after the  release of  the  US non-farm payrolls report despite the  print missing expectations. According to  the  Bureau of  Labor Statistics, the  US added 661,000 jobs versus the  consensus estimate of  850,000 jobs.
The  currency pair’s performance over the  upcoming weekend is likely to  be affected by  Saturday’s meeting.
The  GBP/USD currency pair was trading at  1.2942 as  at  14:15 GMT having rallied from a  low of  1.2836. The  GBP/JPY currency pair was trading at  136.30, having risen from a  low of  135.05.
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