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Sterling Near Three-Week Highs before Government Releases Spending Plans

Tuesday, 7 July 2020 15:11 WIB pound Sterling, Poundsterling

Sterling held near a three-week high against the dollar and gained against the euro on Tuesday as investors waited for more details of the government's plans to support the British economy. Chancellor Rishi Sunak will make a speech on spending on Wednesday, with more measures seeping out since Prime Minister Boris Johnson announced five billion pounds of infrastructure investment seven days ago. Sunak is considering handing out vouchers of £500 ($624) for adults and £250 for children, to spend in sectors of the economy hit hardest by the coronavirus crisis, the Guardian said on Sunday. Against the dollar, the pound was lower at $1.2475 but within striking distance of a June 18 high of...

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