Sterling traders watch for a sign of Brexit breakthrough

Sterling consolidated gains yesterday as investors eyed talks between the UK and the EU on a deal to prevent the UK from crashing out at the end of next month.

The pound was broadly flat at $1.3056, breaking three consecutive weeks of losses. On a weekly basis, it was also the best performing currency among its major rivals. Against the euro, it ended at 86.84p. The EU’s Brexit negotiator Michel Barnier said he could not rule out the possibility that the UK’s EU withdrawal will be delayed.