With such a situation and turbulence surrounding GBP. We can’t help but look at the other side of the conflict – Europe. There, where Johnson’s deal was named just a pattern for the future possible deal and not an actual proposal, its own economic troubles are playing out. After so many talks and Brexit conflict gaining more weight it would be weird if European currency didn’t really react to the news. And it does react pretty strong. But maybe not ibn the way that we would imagine.

As you can see, euro is doing just fine against the greenback and despite our expectations, it grew. How is that possible? Well, Europe is giving us hope in the whole Brexit process. We can draw this conclusion from the fact that the whole day today is dedicated to Europgroup meeting. It is a meeting or the representatives from 19 European countries that are going to decide the future of Brexit. In general, they meet with different reasons each time, but at crisis like we see today, their meeting was inevitable.

So, it does seem that Europgroup can come to a breakthrough decision on Brexit. It is this hope that lightens the weight of the pressure put of European currency and lets it soar, especially when compared to its British counterpart which, despite of the attempt to breakthrough today, is still falling.

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