The pound sterling rallied on currency markets this week to just over £0.87 against the euro, which is a five-month high. The UK currency strengthened following comments from European Commission president Jean-Claude Juncker that the chances of a Brexit deal are growing.

“I have reason to believe that the potential for rapprochement between the two sides has increased in recent days,” said Juncker.

It’s just over a month since sterling was consistently trading above £0.91 against the euro, amid growing fears of a no-deal Brexit.