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9/13, 9:28 AM (Source: TeleTrader)
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Pound at 7-week high on Brexit delay hopes

The pound continued its upsurge on Friday to reach a seven-week high against the dollar, amid hopes that Prime Minister Boris Johnson will eventually ask Brussels to extend Article 50 once again, which is what the recently passed law demands. Johnson's recent remarks put the focus on reaching a Brexit deal by October 19, however, he also noted that the country is prepared to crash out of the EU.

A report from yesterday said that the EU is ready to grant another extension of Article 50 and postpone Britain's exit from the bloc.

The sterling advanced 0.60% at 9.25 am CET compared to the dollar, buying $1.24070, unseen since July 25. Meanwhile, it added 0.17% on the euro, going for €1.11668 at 9:26 am CET, while jumping 0.63% against the Canadian dollar, at 1.63933.

The British currency was also 0.55% higher compared with the Japanese yen at 9:28 am CET, changing hands for ¥134.02700

Breaking the News / NI