News

Sterling Begins new Week Buoyant, Ignores Political Noise

0

LONDON, April 26 Reuters Sterling gained against the dollar and the euro on Monday, ignoring political noise stemming from allegations against Britains Conservative government as positioning data showed investors still bullish on the currency.

The pound appeared unaffected by the news and gained against the dollar for a second week on Friday, helped by better than expected economic data that indicated Britains economy may be rebounding from its worst annual contraction in 300 years.

Prime Minister Boris Johnson is facing a stream of allegations in newspapers about everything from his muddled initial handling of the COVID19 crisis to questions over who financed the redecoration of his official apartment.

Defence Secretary Ben Wallace has denied a report that Johnson said he would rather bodies piled high in their thousands than order a third social and economic lockdown to stem coronavirus infections.

Asked last month about the refurbishment plans, Johnsons spokeswoman said all donations, gifts and benefits were properly declared, and that no party funds were being used to pay for the refurbishment.

Bets on an economic rebound have fuelled sterlings rise against the dollar and euro this year as Britains COVID19 vaccination programme outpaced its peers. The country is emerging from a third national lockdown, and is preparing for the second phase of lifting restrictions.

Sterling was 0.3 higher at 1.3923, off last weeks top of 1.4009. Against the euro it was 0.3…

Turkeys Lira Steadies, Weaker Dollar Aids EM FX

Previous article

UAE Oil Storage Company in Talks to Buy Green Energy Firm

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News