Sterling rises to seven-month high as traders bank on Tory victory

Irish Times | Dec 4, 2019 at 11:00 AM
  • Sterling has risen to its highest level since May against both the euro and the dollar, notching a second day of strong gains as traders bank on a Conservative victory in the general election.
  • Sterling rose as much as 0.5 per cent to $1.3050 against the dollar, and has gained nearly one per cent this week.
  • Still, many analysts note that Mr Johnson’s pledge not to extend the Brexit transition period beyond December 2020 has opened up the risk of a new cliff-edge exit and will probably cap any sterling gains into next year.