Sterling consolidates above $1.43 as dollar dives

Friday, 26 January 2018 00:34 WIB



Sterling settled above the $1.43 line for the first time since the June 2016's EU referendum as optimism around Brexit and growing expectations of an interest rate increase later this year encouraged investors to add to long positions.

A deepening selloff in the dollar also lifted the British pound, with a trade-weighted index trading at its highest level since end-June 2016.

The pound rallied more than half a percent against the dollar to a high of $1.4346 before stabilising around the $1.43 line.

The euro also slipped below 87 pence for the first time since June 2017 and the Bank of England’s trade-weighted sterling index touched its highest since June 30, 2016.

Source: Reuters


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