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Data: Investing.com; Chart: Axios Visuals

British politicians, including Prime Minister Boris Johnson, are urging caution on optimism for a possible Brexit deal between the U.K. and EU and say there remains "significant" work to be done, but investors have thrown caution to the wind and bet big on the British pound.

Why it matters: The pound surged to its highest against the dollar since July on Friday, jumping nearly 2%. That followed a similar 1% jump on Thursday, marking sterling's biggest 2-day gain since before the June 2016 vote to leave the EU.

  • The currency has risen steadily against the dollar since sinking below $1.20 in early September, its lowest level since 1985.

Go deeper: EU President Donald Tusk scolds Britain's Boris Johnson on Brexit

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Updated 19 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"— COVID-19 looms over White House Halloween celebrations.
  2. Health: 13 states set single-day coronavirus case records last week — Fauci says maybe we should mandate masks if people don't wear themU.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.

Amy Coney Barrett's immediate impact

Illustration: Eniola Odetunde/Axios

In her first week on the job, Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.

Texas Democrats beg Biden to spend now

Photo: Ron Jenkins/Getty Images

The Biden campaign is rebuffing persistent pleas from Texas Democrats to spend at least $10 million in the Lone Star state, several people familiar with the talks tell Axios.

Why it matters: If Texas — which has 38 electoral votes and is steadily getting more blue, but hasn't backed a Democrat for president since 1976 — flipped to the Biden column, it would be game over. But the RealClearPolitics polling average stubbornly hovers at +2.6 for Trump — and Team Biden appears more focused on closer targets.