# Sterling jumps more than 1% as traders see hope of avoiding cliff-edge Brexit | Financial Post

> Sterling rose more than 1% to about $1.2904 on hopes that the UK and EU could reach a trade deal by October and avoid a cliff-edge exit. Both sides set a preliminary October deadline, with a final agreement required by the end of December.

- Date: 2020-09-28 · published 2020-09-28T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/51371-sterling-jumps-more-than-1-as-traders-see-hope-of-avoiding-cliff-edge-brexit
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Reduced no-deal risk supports sterling, which lowers the local-currency cost of dollar-denominated feed imports for UK buyers. The impact on commodity prices is minor.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/sterling-jumps-more-than-1-as-traders-see-hope-of-avoiding-cliff-edge-brexit

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.