U.K.’s FTSE 100 opens 0.1% lower at 7,154.46

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Pound jumps as U.K.’s May says deal is ‘close’ for Brexit transition

The pound jumped to an intraday high in Monday afternoon trade in London after U.K. Prime Minister Theresa May said officials are getting nearer to a Brexit-transition deal with the European Union. The pound surged to $1.3858 before paring the gain to $1.3840. “We are close to an agreement on the terms of a time-limited implementation period to give governments, businesses and citizens on both sides time to prepare for our new relationship,” May said in a statement in the U.K. parliament. “I am confident we can resolve our remaining differences in the days ahead,” she said. The U.K. is expected to leave the EU in March 2019. The pound late Friday bought $1.3802.

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