British pound soars again on Brexit hopes
Growing hopes that U.K. and European leaders can reach an agreed deal for Britain to leave the European Union pushed the British pound higher for a second day on Friday.
It’s the strongest sterling has been since Theresa May was prime minister, in late June. Boris Johnson stepped into the No. 10 Downing Street on July 24. The Times newspaper reported that Johnson on Thursday gave some ground on the issue of Northern Ireland. “The change in tone yesterday from the Irish government and the silence on the U.K. side indeed suggests the U.K. has made some notable concessions,” said analysts at Citi, who said they remained skeptical a deal can be reached by Oct. 31, and that the more likely path is an extension of the Article 50 deadline and a general election.
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