LONDON, May 11 — Sterling dipped against the dollar today as rising US Treasury yields put the US currency in demand, with investors cautious about the easing of coronavirus lockdown measures in Britain. As several countries moved to reopen their economies with a gradual easing of lockdown...
The pound dipped against the dollar as well as the euro. — Reuters pic
British Prime Minister Boris Johnson will today give details of how to get the economy back to work, after his attempt to plot a nuanced exit from the coronavirus lockdown prompted confusion, opposition and even satire across the United Kingdom. Patel also noted the increase in short positioning on the pound in the latest CFTC data as being attractive for speculators to initiate further bets against the currency, especially if the Bank of England’s easing is not done yet.
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