LONDON (Reuters) – Sterling strengthened on Friday, reversing earlier losses against the dollar and euro after a newspaper report cited cabinet ministers as saying Britain could seek to delay its scheduled departure date from the European Union.
The report in London’s Evening Standard newspaper “points towards the increasing likelihood that the UK will extend Article 50”, said Lee Hardman, currencies analyst at MUFG.
Britain is due to leave the EU on March 29.
Sterling jumped half a percent to the day’s high of $1.2851 <GDP=D3> to hit the highest since late November. Versus the euro the pound rose 0.3 percent to 89.80 pence per euro <EURGBP=D3>.
Britain’s internationally-exposed FTSE 100 <.FTSE> fell to the day’s low.
(Reporting by Tommy Reggiori Wilkes; editing by Sujata Rao)