February 27, 2019 / 10:08 AM / 6 months ago

Trade-weighted sterling hits 10-month high as no-deal Brexit risks recede

LONDON, Feb 27 (Reuters) - Sterling on Wednesday rose to its strongest in 10-months against a trade-weighted basket of currencies, as investors ramped up bets on Britain avoiding a no-deal Brexit.

A sterling trade-weighted index published by the Bank of England rose to 80.1024, its highest since April 25, 2018.

The pound surged against the dollar and the euro on Tuesday after British Prime Minister offered lawmakers the chance to vote on delaying Brexit and avoiding a chaotic no-deal departure from the European Union.

Reporting by Tom Finn Editing by Tommy Wilkes

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