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Pound climbs as Britain prepares new solution on Irish border

The pound advanced modestly versus the dollar and euro on Wednesday, supported by news that the UK is seeking a new solution for the Irish border dispute.

Photo: Reuters

Sterling gained 0.1 percent to $1.4171. Versus the euro the British currency ticked up 0.1 percent to 87.515 pence.

The Republic of Ireland has been told to wait new offers from Britain on how it intends to avoid a post-Brexit hard border, according to the Times.

The pound has increased five percent versus the dollar this year amid a broadly weaker U.S. currency. Sterling has also surged 1.5 percent against the single currency.

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