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Sterling Weakened by Seasonal Factors, Dollar Strength; Short Positions Increase


Monday, 4 May 2020 23:21 WIB

poundSterling,Poundsterling


Sterling fell on Monday, driven by a stronger dollar due to worsening U.S.-China relations and seasonal flows as the UK currency enters what is typically one of its worst-performing months.

The United States over the weekend renewed its criticism of China's initial handling of the coronavirus outbreak, hurting market sentiment and causing sterling to fall as investors flocked to the safe-haven dollar.

Britain's defence minister said he agreed that China has questions to answer over the information it shared about the outbreak of the virus.

Against the dollar, the pound was last at $1.2423, having fallen 0.6% since the New York close on Friday. Sterling was broadly flat against the euro, at 87.85 pence.

Source : Reuters


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