Pound Advances as Britain and EU Reach Outline of Brexit Pact
- Cable extends gain for second day, rises 0.5% on deal optimism
- Negotiators said to be putting finishing touches to an accord
This article is for subscribers only.
A trading deal the City of London has sweated over for almost half a decade looks like it’s finally here -- eliciting a cheer across U.K. assets.
With Britain forging the blueprint of a deal with the European Union, the pound rose 0.5% to $1.3562 in Asian trading Thursday after advancing 1% the previous session. The yield on 10-year government bonds jumped as much as 13 basis points to 0.31% on Wednesday, the biggest intra-day increase since March.