In overnight Asian trade, sterling tanked to $1.2949 — the lowest since 19 February. The pound also dropped against the euro to €1.16415. Europe’s equity markets meanwhile rose in early afternoon deals on Monday as investors snapped up bargain stock after last week’s heavy losses that had been sparked by global economic fears. London’s benchmark FTSE 100 advanced 0.6 percent on the weak pound, which boosts share prices of key multinationals who earn vast sums abroad. “The pound has started the new week a little on the back foot as the markets await what could be a pivotal few days on the Brexit front, with these developments remaining the primary driver of the currency for the foreseeable future,” said analyst David Cheetham at brokerage XTB. “Helped in part by the dip in the pound, the UK stock market has begun brightly… to trade back near its highest level in three weeks.” Sterling remains volatile The EU’s chief Brexit negotiator Michel Barnier told AFP on Monday that negotiations to break a deadlock on a deal to leave the bloc are now between May and members of her parliament. “We held talks over the weekend and the negotiations now are between the… Read full this story
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