Economy Post-election Brexit hopes boost sterling

Post-election Brexit hopes boost sterling

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Post-election Brexit hopes boost sterling

 Sterling rallied on Monday, moving towards last week’s highs, as British Prime Minister Boris Johnson eyes a vote in parliament soon to deliver hit Brexit deal.

Johnson will “get Brexit done” by Jan. 31 and then agree a new trade deal with the European Union by the end of 2020, cabinet office minister Michael Gove said on Sunday, vowing to deliver on the government’s top priority.

In early London trade, sterling rose 0.6% to a session high of $1.3422 and within sight of 19-month high hit after last week’s resounding win for Johnson’s Conservative Party in a general election.

The pound firmed as much as 0.4% versus the euro to touch 83.06 pence, heading back towards last week’s 3-1/2 year highs.

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