Investors keep away from sterling in uncertain times

Investors keep away from sterling in uncertain times

10 Jul 2020 02:07 PM

Sterling traded slightly lower versus the U.S. dollar and was unmoved against the euro on Friday, with investors mostly staying on the sidelines.

So far little has been achieved in negotiations between Britain and the European Union on a trade deal following Britain's departure from the bloc. This leaves sterling traders unsure of how to approach the pound.

The pound was last flat at 89.61 pence versus the euro and down 0.1% against the dollar at $1.2590.

The trade-weighted pound has never recovered to its pre-Brexit referendum levels.

Britain is also facing challenges to reviving its economy, badly hit by the coronavirus.

Though British shoppers returned to the high street in June as a lockdown eased, overall numbers were much lower than normal for the time of year, an industry survey showed on Friday.


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