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


Friday, 23 November 2018 23:28 WIB

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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


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