Pound Gains as Barnier Praises ‘New Dynamic’ on Brexit Talks

The pound reversed earlier losses as the dollar fell broadly and EU chief negotiator Michel Barnier struck a more positive tone following the latest round of Brexit talks.

Sterling snapped four days of losses as investors sold the greenback ahead of the month- and quarter-end, according to currency traders in Europe and London who asked not to be identified as they aren’t authorized to speak publicly. The pound was also spurred by Barnier’s remarks that there had been a “new dynamic” in this week’s Brexit negotiations. The EU is said to be considering bringing forward talks on a transition period that would follow the U.K.’s exit from the common bloc, although Barnier said that it could be weeks or months before sufficient progress is made.