Make Kitco Your Homepage

Pound jumps on media report of possible delay to Brexit date

Kitco News

LONDON, Jan 11 (Reuters) - Sterling strengthened on Friday, reversing earlier losses against the dollar and euro after a newspaper report cited cabinet ministers as saying Britain could seek to delay its scheduled departure date from the European Union.


The report in London's Evening Standard newspaper "points towards the increasing likelihood that the UK will extend Article 50", said Lee Hardman, currencies analyst at MUFG.


Britain is due to leave the EU on March 29.


Sterling jumped half a percent to the day's high of $1.2851 to hit the highest since late November. Versus the euro the pound rose 0.3 percent to 89.80 pence per euro.


Britain's internationally-exposed FTSE 100 fell to the day's low.


(Reporting by Tommy Reggiori Wilkes; editing by Sujata Rao)

thomas.wilkes.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.