Sterling pinned near the day's lows as Brexit nerves grow

Friday, 23 November 2018 23:28 WIB



Sterling held near the day's lows on Friday and is poised for a second consecutive week of losses as investors moved to the sidelines before a Sunday summit where European Union and British policymakers are expected to endorse a Brexit deal.

Four months before Britain leaves the EU, the legal divorce treaty and an accompanying political declaration on future ties are due to be rubber-stamped by British Prime Minister Theresa May and the leaders of the other 27 EU countries.

Encouraging investors to dial down risky positions at the end of a turbulent week for markets was a rebound in the dollar amid a slide in oil prices with various benchmarks down between 2 to 5 percent.

Against a broadly resurgent dollar, the British currency fell 0.5 percent to $1.2802 while it was a tad firmer against the euro at 88.50 pence.

Source: Reuters


  • The dollar slipped lower on Thursday as expectations for further Federal Reserve rate cuts waned, while the euro gained ground after Eurozone private sector data boosted hopes that the bloc's economy ...



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