GBP/USD ticked higher through the day on Friday, supported in part by risking UK yields and some profit taking on long USD positions. A Reuters article yesterday also reported that a new proposal for an Irish border was also close, further supporting the pound and helping to push GBP/USD through 1.30.
In fact, the Brexit news has been generally positive over the last 12-24 hours. Reports circulating this morning suggest a Brexit deal is “very close”, this again according to Reuters. GBP/USD has popped higher and is now close to breaking 1.3050. There aren’t many other details than that, but it’s good for the pound nonetheless, which is rallying against most major currencies this morning.
The Brexit headlines will no doubt continue to have an impact and whilst there’s no UK economic data due today, investors will be looking to US Non-Farm Payrolls this afternoon, which is set to increase potential for heightened volatility in the GBP/USD pair.