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Sterling Edges Up After Biggest Weekly Drop in a Month


Monday, 10 September 2018 16:15 WIB

poundSterling,Poundsterling


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Sterling edged higher on Monday after posting its biggest weekly drop in a month last week against a broadly stable dollar as investors cut some large short positions, but Brexit concerns checked the gains.

On Monday, the pound edged a fifth of a percent higher at $1.2935 after falling 0.3 percent last week, its biggest drop since early August.

On the broader market, dollar bulls pared some of their aggressive long positions before strong U.S. jobs data last week, with the main beneficiaries being sterling and the euro.

Against the euro, the British currency was broadly flat at 89.40 pence.

Source : Reuters


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