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Sterling at three-week low versus resurgent yen, modestly firmer vs. dollar


Monday, 23 July 2018 16:05 WIB

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Sterling fell to a three-week low against the resurgent yen on Monday, after the Japanese currency received a boost from reports that the central bank was contemplating scaling back its stimulus.

The British currency firmed, however, by around 0.14 percent to the dollar to $1.3150, clinging to gains after rebounding on Friday off 10-month lows as the greenback as undermined by U.S. President Donald Trump’s comments lamenting the dollar’s recent strength.

Against the yen, which has firmed across the board since the Bank of Japan reports, the pound slipped 0.55 percent to 145.8 yen, the lowest since July 3.

The UK parliament starts its summer recess this week and markets are now awaiting next week’s Bank of England meeting to see if the bank decides to raise rates.

Source: Reuters


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