The pound jumped on Friday on growing expectations that Britain will seek to delay its scheduled departure date from the European Union.
A denial by Prime Minister Theresa May’s spokeswoman of a newspaper report knocked sterling off highs but it remained up on the day, with analysts citing a growing sense among some investors that Britain will not be leaving the EU on March 29.
On Friday sterling rose as much as 0.6 percent to $1.2851, its highest since late November, before settling around $1.28. The British currency is headed for its best week since early November.
Against the euro the pound gained 0.7 percent to 89.615 pence.
Source : Reuters