LONDON, June 22 — Sterling rose above US$1.24 today (RM5.31), recovering from a three-week low during Asian trading, helped by a weaker dollar, hopes of a Brexit trade deal and expectations of better economic data. Britain has until the end of the year to sign a new trade agreement with the...
The pound was last up 0.6 per cent at US$1.2425, having fallen earlier to US$1.2337, its lowest since June 1. — AFP pic
Britain has until the end of the year to sign a new trade agreement with the European Union, when the transition period following its exit from the bloc comes to an end. Although much remains to be discussed, both parties have signalled progress. The pound was last up 0.6 per cent at US$1.2425, having fallen earlier to US$1.2337, its lowest since June 1. Against the euro, sterling was up 0.2 per cent at 90.26 pence.
On top of that, “now it’s almost a given that we will see better data,” simply because recent economic indicators have been so dire due to the lockdown imposed to fight the coronavirus pandemic, Vamvakidis said.
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