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Sterling stuck at two-week low as investors cautious over May rate hike


Monday, 23 April 2018 16:03 WIB

DOLLAR EuroSterling,


c_740_198_16777215_00_images_assets_CURRENCY2_pounddeel.jpg

Sterling slipped to a two-week low against the dollar on Monday as investors questioned whether the Bank of England would raise interest rates in May following weaker-than-expected economic data and cautious comments from governor Mark Carney.

The pound has been one of the best performing major currencies in 2018 and last week surged to its highest level since the Brexit referendum in June 2016.

The pound traded flat at $1.3997, after earlier hitting a 2-1/2 week low of $1.3984, as broad dollar strength kept the pound under pressure.

Against the euro, the pound recovered and rose 0.3 percent to 87.515 pence.

Source : Reuters


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