The British pound jumps on bid to thwart no-deal Brexit. Read more:
LONDON - The pound advanced broadly on Friday, notching up its biggest daily rise versus the euro in nearly five months, as a combination of news and decent data provided enough ammunition to speculators to buy the struggling British currency.
Comments from European Central Bank policymakers hinting at more policy stimulus also depressed European government bond yields and increased the appeal of British debt. Rehn’s comments pushed out spreads between British and German comparable 10-year bond yields to near two-month highs at 116 bps.British retail sales unexpectedly expanded in July and signalled that consumers were taking the prospect of Brexit in their stride for now, helped by firm wage data and modest inflation pressures, according to data released earlier this week.
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