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Sterling briefly rises above $1.33 on Brexit delay expectation

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Sterling briefly rises above $1.33 on Brexit delay expectation
Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger   -   Copyright  LEONHARD FOEGER(Reuters)
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LONDON (Reuters) – The pound extended gains on Tuesday and briefly climbed above $1.33 line on expectations that European Union officials would give Britain a delay on Brexit negotiations.

Sterling strengthened as much as 0.4 percent to a high of $1.3311 after a report from Bloomberg said EU leaders planned a contingent offer on extending Brexit in the days just before March 29 exit date. The pound later eased back to $1.3284.

The report follows a Reuters article which had quoted EU diplomats on Monday as saying leaders could hold off making any final decision on any Brexit delay when they meet in Brussels later this week

(Reporting by Saikat Chatterjee; editing by Sujata Rao)

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