sterling steady near 1week high
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Sterling steady near 1-week high

Arab Today, arab today

Arab Today, arab today Sterling steady near 1-week high

Sterling
London - Arab Today

Sterling steadied near a one-week high on Tuesday, holding on to a more than 1 percent rise against the dollar the previous day on the view that Britain’s exit from the European Union will be slower — and softer — than had been feared.
The pound jumped above $1.25 on Monday after Prime Minister Theresa May pledged to address business concerns that Britain could fall off a “cliff edge” into uncertain trading conditions when it leaves the bloc, hinting at some form of a transitional agreement.
That was the strongest signal yet that May might be open to a deal that would offer Britain time to forge a new trading relationship with the EU when formal divorce talks are concluded, probably in 2019.
“If the government were to stick to a two-year deadline that would be unlikely to result in any kind of agreement, so that would be likely to lead to a really hard Brexit, so this transitional arrangement is positive,” said Societe Generale currency strategist Alvin Tan.
“If the final agreement takes five years, as some are saying, or even seven years, like the Canada-EU trade agreement, then the transitional arrangement is what markets are going to be focused on. Five to seven years is further than most people’s horizons when it comes to financial markets.”
Sterling climbed to as high as $1.2514 in Asian trade, its strongest in a week, before easing back to around $1.2490, flat on the day.
Against the euro, it edged down 0.2 percent to 85.26 pence , after trading below 85 pence on Monday — the pound’s strongest in two months.
Sterling was little moved by data showing Britain ran a much smaller than expected budget deficit in October. Public finances still looked weak for the year as whole.
The market’s focus will now switch to Wednesday’s budget update from the British government. Finance Minister Philip Hammond on Sunday played down the chances of a major new boost for spending in the autumn statement — his first in his role as head of the Treasury.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sterling steady near 1week high sterling steady near 1week high

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sterling steady near 1week high sterling steady near 1week high

 



GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 00:49 2017 Tuesday ,28 February

New vehicle scanner to ease Oman border rush

GMT 10:50 2018 Monday ,08 January

L'anza unveils sprayable styling paste Airpaste

GMT 16:40 2012 Monday ,20 February

New Ferrari Enzo

GMT 13:47 2013 Friday ,22 March

FM: Greece takeover process of Cypriot banks

GMT 19:13 2017 Monday ,16 October

6 wounded in USA oil rig blaze near New Orleans

GMT 16:34 2016 Sunday ,25 September

Pakistani air force jet crashes, killing pilot

GMT 20:53 2017 Wednesday ,14 June

Media council abandon complaint against writer

GMT 20:59 2017 Tuesday ,31 October

IMF official says Egypt's economy

GMT 15:19 2017 Wednesday ,29 November

Five things to watch out for in 2018
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday