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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 204.85
Bid: 204.75
Ask: 204.80
Change: -3.20 (-1.54%)
Spread: 0.05 (0.024%)
Open: 208.05
High: 208.90
Low: 202.90
Prev. Close: 208.05
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UPDATE 2-Pound holds near 3-month high as weak dollar counters Brexit unease

Thu, 26th Nov 2020 11:53

* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
(Adds graphic, updates prices)

By Lawrence White

LONDON, Nov 26 (Reuters) - Sterling slipped on Thursday but
still held near a three-month high, as U.S. dollar weakness
offset some of the uncertainty about the outcome of Brexit
talks.

Traders are looking for progress on a trade deal between
Britain and the European Union, with a successful deal priced in
but fears persisting that the discussions could break down.

The head of the EU executive, the Commission, reported
"genuine progress" on Wednesday but said the risk of Britain
leaving the bloc without a deal on Dec. 31 remained.

Sterling, in common with British stocks, has largely
shrugged off finance minister Rishi Sunak's unprecedented
spending plans announced on Wednesday, as Britain looks to
borrow about 400 billion pounds ($535 billion) to pay for the
COVID-19 hit to the economy.

Sunak warned on Thursday that borrowing was not forecast to
fall fast enough to be sustainable, the closest he has come to
acknowledging that taxes will need to rise once the pandemic is
over.

He also said he was confident a trade deal with the EU could
be struck.

Officials in Britain and the EU say the talks are still
snagged on two main issues, fair competition guarantees and
fisheries, but neither so far have shown a willingness to shift
enough on either to make way for any breakthrough.

"Brexit uncertainty is a big driver behind the pound at the
moment. Resolution on that would have a much bigger impact, for
better or worse, than events like the Chancellor's speech
yesterday," said Mimi Rushton, co-head of global FX sales at
Barclays.

"There is a broader theme around dollar softness at the
moment, the month-end signal is for dollar-selling and some of
that has been brought forward by Thanksgiving in the U.S.," she
said.

The pound was down 0.43% at $1.3329 by 1540GMT
after hitting an early September high of $1.3399 in Asian
trading. It also fell against the euro to 89.3 pence
.

With a lack of major scheduled news on Thursday, sterling
traders said they were watching for any official or unofficial
news on the Brexit talks, with negative signals likely driving
bigger price swings because a positive outcome is expected.

($1 = 0.7481 pounds)

(Reporting By Lawrence White; Editing by Barbara Lewis, Pravin
Char and Emelia Sithole-Matarise)

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