Sterling cedes gains after Irish backstop hopes dashed
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LONDON (Reuters) - Sterling went on a roller coaster ride on Wednesday, jumping on reports of a breakthrough on the Irish backstop and then giving up its gains as hopes of progress on a key sticking point for a Brexit deal were dashed.The pound spiked more than 0.5% against the U.S. dollar after The Times newspaper said Brussels was prepared to offer a mechanism for the Northern Irish assembly to leave a new backstop after a number of years.But it fell back when the chief whip of Northern..