Improved risk appetite lifts sterling 1.3% vs weakening dollar

Published by
Reuters UK

By Joice Alves LONDON (Reuters) -Sterling surged more than 1% against a weakening U.S. dollar on Monday supported by improved risk sentiment as markets scaled back some of their bets on Federal Reserve rate hikes. The pound climbed 1.3% to a one-week high of $1.2032, at 1453 GMT, after touching its lowest since March 2020 on Thursday. Against the euro, sterling rose 0.25% to 84.79 pence. The greenback retreated and stocks rallied as several Fed officials signalled they did not favour stepping up the pace of rate hikes. [FRX/] “The U.S. dollar is on the back foot… as fears of a 100 bps (basis…

Read More

Leave a Reply