Sterling nears 2020 peak as investors anticipate a Brexit breakthrough

Sterling nears 2020 peak as investors anticipate a Brexit breakthrough

Sterling notes and coins are laid out for a photo.Matt Cardy | Getty ImagesLONDON — The British pound jumped close to levels not seen for 31 months Thursday as investors bet the U.K. and the European Union would strike a long-awaited Brexit trade deal.Sterling climbed 0.8% to around $1.3593, after earlier reaching a session high of $1.3616. Earlier this month, the currency breached a 2020 high of $1.3624, a level it hasn't hit since May 2018.Brexit negotiators on both sides are said to be on the cusp of striking a narrow free trade agreement on Thursday. It comes after months of tense political wrangling over a number of key sticking points."This is going to be a skinny deal, "Jane Foley, head of FX strategy at Rabobank, told CNBC Thursday. "The general feeling is that services are going to be left out in the cold and talks will continue next year."Irish Foreign Minister Simon Coveney said a post-Brexit trade deal was expected Thursday, after a "last-minute hitch" delayed an announcement.Coveney told RTE radio it will be an "enormous relief" when the deal is finally announced. Press conferences originally slated for Thursday morning were delayed as both sides finalized the "small text" of an