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Pound Surges Most in Six Months on Market Confidence Over Brexit
The pound climbed the most since March’s market turmoil on bets that a Brexit deal might still be possible next month. Sterling rose as much as 1.7% to $1.3171, its highest in over six weeks, after Bloomberg reported that trade talks between the U.K. and European Union are on the verge of resuming. Negotiators have a goal of finding a deal by mid-November, according to people familiar with the matter. “Rather than a walk away deadline, we now have in store a timeline on a potential deal,” said Neil Jones, head of foreign-exchange sales to financial institutions at Mizuho Bank. “There is an air of ... (full story)