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Sterling rises as May holds crunch Brexit meeting


Friday, 6 July 2018 23:40 WIB

poundSterling,Poundsterling


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Sterling rose to an eight-day high on Friday as traders awaited the outcome of last-ditch efforts by Prime Minister Theresa May to unite her government over plans for Britain's future outside the European Union.

The meeting at Chequers, May's country residence, which is set to run late into the evening..

The pound's rise on Friday was largely down to dollar weakness following the release of U.S. employment data.

The pound rose 0.4 percent to as high as $1.3279 against the dollar in early Friday trading. It slipped 0.2 percent against a broadly stronger euro to 88.64 pence.

Sterling will not move much in the run-up to Britain’s departure from the European Union in March next year but will gain ground against the U.S. dollar afterwards, a Reuters poll of foreign exchange strategists predicted.

Source: Reuters


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