LONDON, June 8 — Sterling rose against the dollar today, as plans to ease coronavirus lockdowns in the UK and signs the economy may bounce back due to pent-up demand kept the currency just below the US$1.27 touched late last week. Analysts warned, however, that Brexit remains a risk for the pound...
Monday, 08 Jun 2020 05:32 PM MYT
Analysts warned, however, that Brexit remains a risk for the pound — which has rallied for seven consecutive days against the dollar — as talks with the European Union fail to make progress. The number of British shoppers in early June indicate pent-up demand for shopping in physical stores as the coronavirus lockdown is eased, industry data showed today.
“Sterling-dollar remains anchored around the 200-day moving average of US$1.2660/65. But it seems that bar the broader weak dollar and positive risk environment, investors currently lack any major catalyst for the pound to move materially above this key level,” said Viraj Patel, FX and global macro strategist at Arkera.
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