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Sterling maintains gains despite report Brexit cabinet meeting delayed


Thursday, 8 November 2018 16:55 WIB

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Sterling rose for a fourth consecutive day on Thursday as investors clung to hopes of an imminent Brexit deal despite reports a cabinet meeting to agree the UK's negotiating position had been delayed until next week.

The pound has benefited from signs Britain is closing in on a deal with the European Union less than five months before it is due to exit the bloc.

Sterling has risen 3 percent versus the dollar this week in spite of unresolved differences over the Irish border.

It is still unclear if enough progress has been made in time to hold an emergency summit of EU leaders in November to sign off on a deal.

Against a recovering dollar, the pound edged up 0.1 percent to trade at $1.3150, just below a two-week high of $1.3176 hit on Wednesday. It traded broadly flat against the euro at 87 pence.

Source: Reuters


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