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Sterling steadies near seven-week low as traders eye Brexit speech


Friday, 2 March 2018 17:10 WIB

EuroPoundsterling


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Sterling steadied close to a seven-week low against the dollar on Friday, as traders eyed a speech from Prime Minister Theresa May on her plans for a trade deal with the European Union.

The pound has struggled to build on a rally earlier this year amid a resurgence in political risk centred on Brexit and a broad rebound in the dollar. It suffered its worst month since October 2016 in February, as the greenback strengthened across the board.

On Friday it was flat at $1.3777, close to a seven-week low of $1.3712 touched on Thursday.

Against the euro, it hit a two-week low of 89.16 pence.

Source: Reuters


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