NewsBreak: GBP Jumps as Farage Says He Won't Fight Tories

Investing.com -- The British pound surged on Monday as Brexit Party head Nigel Farage said his party won't contest any seats currently held by the Conservative Party at the general election on Dec. 12. The move increases the chances of the Conservative Party gaining a majority at the polls, and consequently implementing the EU withdrawal agreement secured last month by Prime Minister Boris Johnson.

Farage told a party meeting that "we now have a Leave alliance, albeit we've done it unilaterally."

"This prevents a second referendum from happening and that to me today is the single most important thing in our country," Farage said.

GBP/USD at $1.2880 vs $1.2830 immediately before the comments

EUR/GBP at 0.8570 vs 0.8615 earlier

U.K.10-year government bond yield at 0.80% vs 0.77%

FTSE 100 at 7,268.95 points up from 7.261.45, still down 1.2% on the day.

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