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LONDON Oct 18 Sterling hit its highest against
the euro since its October 7 "flash crash" in a rollercoaster
session on Tuesday, buffeted by mixed interpretations of a rise
in inflation and suggestions parliament would have to ratify
Britain's deal to leave the European Union.
A UK government lawyer said parliament would "very likely"
have to ratify an eventual agreement with the EU when the
country leaves the bloc, sending the pound to as high as $1.2300
and 89.60 pence per euro in morning trade in London.
It pulled back again as James Eadie, who is representing the
government in a High Court challenge over who has the right to
trigger divorce talks, said the EU and Britain could also agree
in the deal that parliament would not have to be consulted.
"We have just jumped on that headline but it does not look
as clear as people initially thought," said a strategist with
one international bank in London.
(Reporting by Patrick Graham; Editing by Jemima Kelly)