Sterling surges to a 7-week high as no-deal Brexit fears ease
Friday,
13-Sep-2019
02:57 PM (IST)
The pound extended gains and jumped to a seven-week high against the dollar as investors cut their sterling short positions on the receding risks of a no-deal Brexit. Sterling rose 0.6% to $1.2418, the highest since July 26. Against the euro, sterling’s rise was less pronounced, with the pound gaining 0.4% to 89.350 pence. The British parliament earlier this month voted to stop Prime Minister Boris Johnson’s government from taking Britain out of the European Union on Oct. 31.
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