Pound rises versus dollar on May's Brexit gamble

The British pound rose against the dollar Wednesday after Prime Minister Theresa May offered cross-party talks with the leader of the opposition Labour Party in a political gamble aimed at resolving the Brexit impasse. Sterling won a boost after Conservative leader May declared late Tuesday that she would look for another Brexit delay and softened her position to try and avert a messy no-deal divorce from the European Union next week. Labour leader Jeremy Corbyn has consistently called for Britain to remain in a customs union with the bloc, while the government has so far ruled this out saying Britain should have an independent trade policy after Brexit.

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