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Pound Set for Best Gain in Two Weeks Amid Broad Dollar Weakness
The pound headed for the biggest gain since its post-election rally two weeks ago, benefiting from improved global risk sentiment and broad weakness in the dollar. Sterling rose above $1.31 and outperformed all major peers Friday, on track for a weekly gain amid thin trading ahead of year-end. The U.K. currency strengthened as riskier assets gained across markets, reflecting a pickup in global investor confidence as a thaw in U.S.-China trade tensions brightens the world economic outlook. The greenback fell against all Group-of-10 currencies, with the Bloomberg Dollar Spot Index set for the largest two-day slide ... (full story)