Sterling has had a terrific week, courtesy of momentum to prevent a no-deal Brexit on March 29, but it could pare some of its recent gains if that momentum stalls next week.
Developments in the UK parliament Tuesday will help gauge whether momentum is still flowing or ebbing, with MPs due to debate and vote on a raft of Brexit amendments nL8N1ZO253.
GBP/USD rose to an 11-week high of 1.3140 Friday, with EUR/GBP dropping to test its 2018 low of 0.8621, after The Sun reported that Northern Ireland's DUP has privately decided to back Tory PM Theresa May's Brexit deal next week if it includes a time limit to the Irish backstop nL8N1ZP1GB.
However, on Thursday, the EU's chief Brexit negotiator, Michel Barnier, said the backstop could not be time-limited nL8N1ZO0WY, three days after Ireland knocked back a Polish proposal to limit the backstop to five years nL8N1ZL2Z6.
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