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Pound Heads for Weekly Gain as Investors Eye Summit


Friday, 16 March 2018 15:57 WIB

poundSterling,Poundsterling


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The pound headed for a weekly gain versus the dollar and the euro amid optimism that the U.K. will be able to hash out a deal on the Brexit transition phase with the European Union by next week's summit.

The pound rises 0.1% to $1.3954, heading for a weekly gain of 0.8%; it is little changed at 88.28 pence per euro, up 0.6% for the week.

Still, the U.K. has significant ground to cover on the Irish question if it wants to get a deal on the transition phase next week, according to three European diplomats.

Next week sees the Bank of England policy decision on Thursday and the EU summit Thursday and Friday.

Source: Bloomberg


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