Pound set for biggest weekly gain vs euro in more than a year on Brexit hopes
Pound set for biggest weekly gain vs euro in more than a year on Brexit hopes
LONDON: The pound weakened Friday as investors took profits after a stellar rally this week that set the currency up for its biggest weekly gain against the euro in more than a year on growing confidence that a no-deal Brexit can be avoided.
The currency has risen about 1.3 percent against the euro this week, set for its biggest weekly gain since November 2017 .
Against the euro, sterling tumbled 0.5 percent to 88.13 pence and below two-month peaks hit a day earlier at around 87.65 pence.