A calm summer for sterling
Publish Date : 2019/08/20 - 11:41

After 10% drop in sterling value from mid-March, it takes advantages from remaining weeks of the British summer and parliamentary recess.

Fears that Britain will leave European Union in October 31 deadline, without an agreement have battered the pound in recent months. Therefore, investors sell their pounds and forecast that they can buy them back later again.

But pound stabilized more after dropping to 10-year lows against euro this month.

Pound has gained 0.4% against dollar and 1.6% against euro from recent lows, so it trades $1.21 and 91.5 pence per euro.

Demand for sterling remains high, it shows that the investors are not sure it will drop.


Source: Reuters

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