Sterling holds gains as Brexit Party pledge eases hung parliament fears

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Sterling holds gains as Brexit Party pledge eases hung parliament fears
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Sterling held gains in Asian trade on Tuesday, having hit a six-month high versu...

TOKYO - Sterling held gains in Asian trade on Tuesday, having hit a six-month high versus the euro and rising as much as 1% against the dollar overnight, as the risk of a hung parliament in UK elections eased slightly.

In a significant boost for Prime Minister Boris Johnson ahead of the Dec. 12 election, Brexit Party leader Nigel Farage said his party was standing down candidates in seats won by the Conservatives in 2017 and would instead focus on challenging anti-Brexit politicians. Against the euro, the sterling strengthened to its highest level since May 8, at 85.62 pence EURGBP=D4. The pair last stood at 85.79 pence.

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