Sterling Rises to 5-Week Highs as Markets Bet on Brexit Deal

Tuesday, 11 September 2018 15:13 WIB



Sterling rallied for a second consecutive day on Tuesday as a weaker dollar fuelled appetite for riskier currencies while overnight comments from the European Union's chief negotiator that a Brexit deal was possible within weeks boosted sentiment.

For the second time in less than a week, Michel Barnier has signalled his desire to push ahead with Brexit negotiations, less than seven months before the United Kingdom is slated to leave the European Union on March 29, 2019.

In early London trading, sterling rose 0.4 percent to a five-week high of $1.3072 against the dollar. Against the euro, it was broadly flat at 89.02 pence.

Hedge funds are broadly negative on the outlook for the British currency, according to latest positioning data which shows a net $5.5 billion outstanding short position.

But recent comments from policymakers have prompted investors to reduce some of their short positions.

Source : Reuters


  • The pound fell nearly half a percent on Monday as concern revived that Britain will struggle to secure a deal on the terms of its departure from the European Union. The pound fell to a three-year low...
  • The dollar extended losses in early trading in Europe Friday, as higher-yielding currencies advanced on hopes of at least a temporary truce to the U.S.-China trade war. President Donald Trump downpla...



Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.