Stronger pound reflects City's relief at receding no-deal Brexit | Phillip Inman

Traders still have doubts about the PM getting her deal away despite chance of extra time

The pound jumped to a fresh 10-month high on Wednesday after it became obvious that Britain will avoid crashing out of the EU without a deal. Obvious, that is, to City traders, who have always bet that a deal is the most likely outcome of the Brexit talks and now believe it to be a racing certainty.

Theresa May's concession of a vote in a fortnight to delay Brexit, which she agreed as a way to keep her own deal in play, was the trigger for a Mexican wave across the City.