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Sterling Heads For Best Week in Seven But Brexit Concerns Still Weigh


Friday, 21 December 2018 17:41 WIB

poundSterling,Poundsterling


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The British pound was steady on Friday after the British economy was confirmed to have grown at its fastest rate since 2016, with trading quiet ahead of the holiday period and a parliamentary vote in January on the prime minister's Brexit deal.

Sterling has gained this week, largely on the back of broad dollar weakness but also on signs that the British economy is holding up relatively well ahead of Brexit.

Retail sales data came in far better than expected on Thursday and data on Friday showed that the British economy was 0.6 percent larger year-on-year in the third quarter.

The pound rose 0.1 percent to $1.2674 in early European trading, bringing its week-to-date gains to 0.7 percent. That put sterling on track for its best weekly rise in seven weeks.

Against the euro, sterling gained 0.3 percent to 90.215 pence.

Source : Reuters


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