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The pound is holding at its highest intraday level against the dollar since October in early Asian trading after Prime Minister Theresa May called a snap election on Tuesday.

Mrs May’s surprise general election announcement saw the pound climb 2.7 per cent to $1.2905 on Tuesday on expectations the election will give the prime minister more control over Brexit negotiations.

The pound is currently flat at $1.2838, a level it last saw in early October.

Copyright The Financial Times Limited 2018. All rights reserved.

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