Pound stable

The British pound steadied on Friday after London requested another Brexit extension in the long-running saga, while global stocks mostly rose on hopes over China-US trade talks.

British Prime Minister Theresa May has asked the European Union to delay Britain´s departure until June 30, while the bloc itself suggested that it might be best to postpone the split for up to a year.

"In terms of market moves on this news, there´s not really been too much of note with the pound trading little changed as the dust settles," noted XTB analyst David Cheetham.

"As far as most currency traders are concerned the chances of a no-deal remain remote -- but at the same time a satisfactory outcome anytime soon also seems highly unlikely, and this is containing the pound in a fairly narrow trading range."

May also told EU Council president Donald Tusk in a formal letter that Britain would start preparing for its participation in European Parliament elections in case it is still a member of the bloc when they begin on May 23.

The embattled premier is racing against the clock in a desperate bid to get her deal approved in time for an EU leaders´ summit in Brussels on Wednesday, when a formal decision on any extension will be made.

She is also holding a third day of talks with opposition Labour Party leader Jeremy

Corbyn to find a way to avert a messy no-deal divorce.