By James Tapsfield, Political Editor For Mailonline
Published: 08:53 BST, 20 September 2019 | Updated: 17:43 BST, 20 September 2019
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The pound rallied against the dollar and euro overnight as currency markets seized on Brexit optimism from Jean-Claude Juncker.
Sterling rose to its best level for months in the wake of the positive noises from the commission president.
This morning the currency was trading at 1.2574 US dollars - the highest level since early July - while against the euro it hit 1.1360.
There has now been a rise of more than 5 per cent since the sub-$1.20 lows seen earlier this month.
In an interview last night, Mr Juncker said the hated Irish backstop could be scrapped as long as 'all' the bloc's demands are met some other way.