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Sterling surges above $1.38 for first time since Brexit vote
Sterling surged above $1.38 for the first time since the results of Britain’s vote to leave the European Union on Monday, as the dollar weakened broadly and on hopes that other EU members would seek a relatively “soft” Brexit. The pound posted its biggest jump in four months against the dollar on Friday, on a media report that the Netherlands and Spain were open to a deal for Britain to remain as close as possible to the trading bloc crushed short positions. Officials from those countries later denied the report. But market-watchers say the dialogue around Britain’s exit from the bloc has in general turned ... (full story)