Pound Euro exchange rate: Brexit optimism and “nonsense stories” buoy GBP/EUR

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Sterling jumped on Friday, causing it to extend last week’s rally thanks to a fresh bout of Brexit optimism. Investors flocked to the pound as a report from the Times revealed the Democratic Unionist Party (DUP) had agreed to “shift its red lines” as part of a deal to replace the Irish backstop. The unidentified sources stated the party had privately said it would drop objections to regulatory checks in the Irish Sea. 

The pound rallied despite the report being quickly denied by DUP leader Arlene Foster, who tweeted that the “UK must leave as one nation”. 

Added to this, Ms Foster dismissed the credibility of the sources, adding: “Anonymous sources lead to nonsense stories”.

Meanwhile, Prime Minister Boris Johnson reinforced he would take the UK out of the EU in time, stating he “won’t be deterred by anybody” from leaving on 31 October. 

Mr. Johnson also added he was “cautiously optimistic” of achieving a Brexit deal, but the UK would leave by the

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