Pound surges on Brexit fever as trade hopes boost world stocks

The British pound surged on Friday as traders detected signs that London and Brussels could still win the race against time to avoid a no-deal Brexit.

But then the currency took off when EU member states gave Brexit negotiator Michel Barnier the go-ahead for more intense talks with Britain over the weekend, just days before a key European summit. President Donald Trump said Chinese and American officials were working toward meaningful progress in trade talks.

"This clearly puts fuel on the Middle East fire," SEB commodities analyst Bjarne Schieldrop told AFP.

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