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The pound shot up as much as 1.3% in morning trading in London.
The pound pushed up 1.3% against the dollar and 1% against the euro on Friday.
The pound is tanking after Boris Johnson’s Brexit talks with Angela Merkel reportedly hit a dead end
The pound dropped 0.7% against the euro on Tuesday morning.
The EU says negotiation is a "preferred approach," the Wall Street Journal reported. It's a sign Europe wants to avoid a full-blown trade war with the US.
Earlier Wednesday, the WTO reached a historic ruling that authorized the US to impose punitive tariffs on $7.5 billion worth of European products.
Trump had been looking to hit the EU with tariffs on aircraft parts and luxury goods due to a dispute that subsidies were given to Airbus and Boeing.
"The drop in the ESI, from 103.1 in August to 101.7 in September, marked a resumption of the steady decline in the index since the start of 2018."
The comments come as the EU reportedly weighed a $4 billion tariff hike on the US over a decades-long standoff between Boeing and Airbus.
The EU proposal has not yet been officially agreed to, according to Bloomberg, and faced opposition from at least one member of the bloc.
"The economy is limping towards the final quarter of the year, and, on its current trajectory, might not see any growth before the end of 2019."