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4/18/2017, 1:21 PM (Source: TeleTrader)
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Pound hits highest versus dollar since February 2

Investors shrugged off concern about potential instability from the Brexit process after United Kingdom's Prime Minister Theresa May called for a snap general election on Tuesday, and they took the value of sterling to $1.2675 at 1:18 pm CET, the highest point in two and a half months. The country's currency jumped after falling to as low as $1.2516 before the announcement.

At the same time, the euro plunged to £0.84152, a level unseen since February 22. The appreciation of the pound weighed on internationally oriented companies listed in London, and the blue-chip FTSE 100 index plunged 1.61% to 7,209.48 points, the lowest in more than two months, at 1:00 pm CET.

Breaking the News / IT