The pound shoots up after the signing of the Trade and Cooperation Agreement between the EU and the United Kingdom

The British pound has reacted to the upside after it became known that Ursula von der Leyen, President of the European Commission, and Charles Michel, President of the European Council, have signed a new Trade and Cooperation Agreement with the United Kingdom on Wednesday on behalf of the European Union. The agreement, sealed in Brussels this morning, will regulate relations between the two parties after Brexit.

He GBP/USD, which had already advanced more than 60 pips during the Asian session, has extended its rise 20 more pips in the last hour, rising to 1.3576, a new three-day high. At time of writing, the cross is trading above 1.3571, gaining 0.55% on the day.

He EUR/GBP it has lost about 40 pips since the European open, falling to 0.9028, its new two-day low. At this time, the pair is operating around 0.9029, losing 0.52% daily.

Finally, the GBP/JPY It has risen nearly 40 pips, jumping above 140.00 to hit 140.20, a two-day high. The pair is now trading above 140.13, gaining 0.25% daily.

As reported by various agencies, the EU signature consisted of three documents, one on Trade and Cooperation between the European Union and the European Atomic Energy Community (Euratom), on the one hand, and the United Kingdom and Northern Ireland, on the other. The second between the EU and the United Kingdom and Northern Ireland, in relation to security procedures for the exchange and protection of classified information. The latter has put the rubric between the United Kingdom and Northern Ireland and the European Atomic Energy Community for Cooperation on Safe and Peaceful Uses of Nuclear Energy.