November 14, 2018 / 8:25 AM / a month ago

Sterling overnight volatility jumps to highest since 2017 UK general election

FILE PHOTO: A bank employee counts pound notes at Kasikornbank in Bangkok, Thailand October 12, 2010. REUTERS/Sukree Sukplang/File Photo

LONDON (Reuters) - Sterling/dollar GBPONO= implied overnight volatility jumped to 23 percent on Wednesday, its highest since Britain’s general election in June 2017, as traders prepared for Prime Minister Theresa May’s Brexit deal showdown.

Implied overnight volatility is on course for its biggest weekly rise in at least five years, Refinitiv data shows.

Reporting by Tommy Reggiori Wilkes; Editing by Jamie McGeever

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