The pound has extended gains and jumped to a seven-week high against the dollar as investors cut their bets on sterling falling as they think the risks of a no-deal Brexit could be receding.
Currency dealer World First also pointed out that “dollar weakness has allowed currencies to strengthen this morning”
Sterling rose 0.6% to $1.2418, the highest since 26 July. Against the euro, sterling’s rise was less pronounced, with the pound gaining 0.4% to 89.350 pence.
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