© Reuters. British Pound Sterling banknotes are seen at the Money Service Austria company’s headquarters in Vienna

LONDON (Reuters) – Expectations for volatility in the British pound plummeted to their lowest levels in more than a year on Tuesday after European Union leaders and the British government last week announced Brexit would be delayed for up to six months.

Sterling implied volatility gauges slipped across the board, extending a recent decline, to their lowest levels since January 2018, as no significant Brexit-related developments were expected this week.

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