The UK and the European Union have seven weeks to agree their future relationship, with negotiations scheduled to conclude on October 2. Brexit clouds have hung over the pound for some time, although traders appear hopeful that, after all the posturing, the two parties will eventually reach a deal. Sterling rose 0.5 per cent against the dollar to $1.317 in early deals. Should it end the day there, it would be its highest since the opening days of January. Helping its cause is the recent drop in the value of the greenback as the US presidential election draws nearer.

Source: The Times August 18, 2020 11:03 UTC