Sterling snaps three-day rally but outlook improves

Tuesday, 9 January 2018 18:09 WIB



Sterling snapped a three-day rising streak and weakened on Tuesday as investors took profits after a rally although expectations that Brexit talks will have a positive outcome continued to underpin the British currency.

External factors have also proved supportive for the pound with the U.S. dollar struggling to gain much traction against its rivals in the opening days of the year.

On Tuesday, sterling edged 0.3 percent lower to $1.3529 but remained within striking distance of a four-month high of $1.3614 hit last week.

Against the euro, it has been a more mixed picture, with sterling oscillating around the 88 cents line over the last month.

Source: Reuters


  • The dollar slipped lower on Thursday as expectations for further Federal Reserve rate cuts waned, while the euro gained ground after Eurozone private sector data boosted hopes that the bloc's economy ...



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