Brexit deal gives sterling a boost

THE pound rose against the dollar and the euro as investors continued to cheer Rishi Sunak’s Brexit deal.

On a second day of gains following the signing of the agreement on Northern Ireland, sterling rose above $1.21 and €1.14. That was its highest level against the euro since January.

Kit Juckes, a strategist at Societe Generale, said pushing the deal through Parliament would be ‘unambiguously good’ for the pound. He added: ‘Anything that gets back towards a long-term healthy economic and political relationship with Europe is a plus.’

Simon Phillips, managing director at the travel money specialists No1 Currency, said: ‘The pound is ending February in style. All this is welcome news for anyone planning an Easter break in Europe, as their spending money will now go that bit further.’