Sterling is intact ahead of Brexit negotiations

Sterling is intact ahead of Brexit negotiations

On Monday, the British pound was intact ahead of the beginning of Brexit talks, with market participants also waiting for comments from a top Fed official to find out whether the greenback’s recent leap can be sustained or not.  

The British pound almost stood still, keeping to $1.2777. The UK currency hardly reacted to recent news that a van ploughed into worshippers leaving a mosque in London on Monday, murdering one person and also injuring several.

The UK currency has faced rather a turbulent month, dipping to a near two-month minimum of $1.2636 on June 9 on the UK election shock, but soaring the previous week as the Bank of England approached raising rates, following a split vote in its monetary policy committee.

There’s significant uncertainty over Britain’s stance on Brexit negotiations, and some experts are cautious as for the pound’s near-term prospects.

Meanwhile, the common currency showed $1.1194, having leapt 0.5% on Friday.


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