August 29, 2018 23:43: Big news: Barnier “to offer a special partnership with the UK”【from Mr. Rikiya Shima’s newsletter】
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Last night the pound surged. For the factors behind it, Mr. Rikio Shima explained as follows.
Many people may think that the sharp rise in GBP came because important news was released, but Michel Barnier, the EU's chief negotiator for Brexit talks, stated that he is “prepared to offer the United Kingdom a special partnership that is not offered to any other country” and that he is “considering issuing a statement in November regarding the future relationship with the UK.”
Mr. Barnier has historically been a very tough negotiator and did not offer any easy concessions to the UK. This represents a major shift in Europe’s stance, and the prospect of a favorable Brexit for the UK (a soft Brexit) has suddenly become much more likely.
It can be called a Game Changer, and I think we should actively buy GBP.
From “Shima Rikio’s Real-World Live Trades” (Rikio Shima) quoted.
As Tokyo time begins, the pound/yen is trading in the 145.40–145.60 range. The area around 145.50 has acted as support several times in 2018, so if it breaks below this level, momentum may build. (Editors)
Pound/yen, 1-hour chart.
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