Sterling rises to its highest level against the euro in six months after U.K.
Prime Minister Boris Johnson said all candidates from his Conservative Party for
the Dec. 12 general election have committed to back his Brexit deal and as
opinion polls showed increased support for his party. The U.K. would still need
to negotiate a trade deal with the European Union if lawmakers vote for
Johnson's withdrawal agreement but for now "any clarity on what will happen
seems to be good for the pound short-term, even if in the long run it's bad for
the country," says Marshall Gittler at ACLS Global. EUR/GBP falls 0.4% to a low
of 0.8534, according to FactSet. GBP/USD rises 0.5% to a two-week high of
1.2962.
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