British Pound (GBP USD EUR) Rises as Traders See Brexit Breakthrough Near

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The pound advanced to the highest level in three months as anticipation grows that the U.K. and European Union may strike a trade deal soon. There are reports that a EU-U.K. trade deal will be struck in the next few days,” said Jane Foley, head of currency strategy at Rabobank. Although we have heard this before, given the time needed for the EU to ratify the deal, this week is widely considered to be the final push.” […] The gauge dropped as much as 0.4% as of 11:02 a.m. in London, with a trader in Europe adding that early dollar-selling flows helped bolster the pound. […] They sent the cost of hedging a decline in sterling to the highest in two months.

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