The British pound rose on the back of optimistic comments from Angela Merkel, who hinted that a deal could still be reached before the October 31st deadline. This comes just after Emmanuel Macron said a hard Brexit would be Britain’s fault and that Boris Johnson’s demands for a Brexit renegotiation were unworkable. Still, the GBP rallied across the board and cable enjoyed its most bullish session in nearly 4 months. Whether it can maintain this momentum remains to be seen, yet with UK parliament in recess until 3rd of September, we could see traders willing to take less risk on the pound.As noted in this week’s COT ... (full story)