The pound remained stuck near $1.31 as Brexit talks resumed on Monday between the British government and the main opposition party and traders refrained from taking positions on the currency.
Negotiations between Prime Minister Theresa May's government and the opposition Labour Party over the terms of Brexit, in particular the shape of a customs union, are deciding sterling’s direction.
The British currency jumped to a one-month high on Friday on hopes the talks might lead to a Brexit deal, but a breakthrough is unlikely this week, the BBC's political editor cited an unidentified senior government source as saying.
Against the dollar, the pound traded flat at $1.3090 and was steady against the euro at 85.48 pence.
Source : Reuters