September 5, 2018 / 1:35 PM / 2 months ago

Sterling jumps as Bloomberg reports Germany and Britain to drop key Brexit demand

FILE PHOTO: A shop cash register is seen with both Sterling and Euro currency in the till at the border town of Pettigo, Ireland October 14, 2016. REUTERS/Clodagh Kilcoyne/File Photo

LONDON (Reuters) - Sterling jumped as much as one percent GBP=D3 on Wednesday after Bloomberg reported that the British and German governments have abandoned key Brexit demands, potentially easing the path for Britain to strike a deal with the European Union.

The pound rose to a three-day high of $1.2983 (1.01 pounds) on the report which cited people familiar with the matter. GBP=D3

Sterling also jumped against the euro and at 1325 GMT was up half a percent at 89.66 pence EURGBP=D3.

Reporting by Tom Finn; editing by Sujata Rao

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