Pound US dollar exchange rate: GBP/USD rises on backstop fudge ‘satire’

The pound US dollar exchange rate edged higher to over 0.3 percent today and is currently trading around $1.323. GBP/USD gained today following news that the UK Attorney General, Geoffrey Cox, had effectively shelved the idea of a hard time-limit on the Irish backstop. Mr Cox has instead proposed an ‘arbitration mechanism’ that enables the UK and the EU to formalise a notice on ending the backstop.

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