Sterling surges to a 1-month high on Brexit deal hopes [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Reuters
Sterling surges to a 1-month high on Brexit deal hopes - Reuters 3 Min Read LONDON (Reuters) - Sterling surged past $1.3150 on Friday after the leader of Britain’s opposition party said parliament must break the deadlock over Brexit and “get a deal done” to exit the European Union. It also rallied to a one-month high against the euro as broad dollar weakness prompted investors to cut short positions heading into a long weekend with Britain shut for a local holiday on Monday. Lee Hardman, MUFG’s currency analyst based in London said “optimism” over a “cross-party deal to break the impasse” had extended the move higher in sterling. Traders heading into a three-day weekend in London may also be trimming any short positions in the pound in case they are caught out by positive news in the Brexit talks when markets are closed. Jeremy Corbyn, leader of Britain’s Labour Party, said on Friday that the results of local elections held around the country the previous day should spur lawmakers to
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