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Sterling hovers near recent highs as investors weigh up Brexit outcomes


Thursday, 12 September 2019 23:34 WIB

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Sterling held on Thursday near the six-week high it reached at the start of the week as investors weighed up Britain's chances of securing a divorce deal with the European Union ahead of its departure from the bloc on Oct. 31.

With the U.K. parliament in recess after Prime Minister Boris Johnson suspended it for five weeks - a move judged unlawful by Scotland's highest court of appeal on Wednesday - traders lacked any new Brexit developments to digest and stayed on the sidelines.

The court ruling has prompted calls for lawmakers to return to work as the government and parliament battle over the future of Brexit.

The pound was flat at $1.2329, close to $1.2385, a high it surged to on Monday on the back of no-deal Brexit worries receding and better-than-expected economic data. Against the euro, the pound was slightly lower at 89.45 pence, also close to a six-week high.

Source : Reuters


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