Sterling trimmed earlier gains on Monday as punters took profits after a rally lifted the British currency to six-week highs thanks to surprisingly strong data and hopes that Britain will not crash out of the European Union without a deal.
Expectations of more political uncertainty also weakened the British currency after John Bercow, Speaker of Britain's House of Commons, announced that he would be standing down.
Against the dollar, the pound trimmed gains to stand up 0.3% on the day at $1.2323. It jumped to a six-week high of $1.2385 in London trading after economic data beat forecasts.
Versus the euro, it also gained 0.25% to 89.48 pence.
Source : Reuters