Thursday, 29 March 2018 23:34 WIB |
Sterling edged down on Thursday as end-of-quarter portfolio rebalancing by investors outweighed encouraging economic data, but the currency is still set for its best quarter against the dollar in almost three years.
Hopes of a transition deal on Britain™s departure from the European Union - which was eventually agreed earlier this month - and growing expectations that the Bank of England could soon raise interest rates have propelled the pound this year to its highest since the June 2016 Brexit referendum.
Sterling is up roughly 3.9 percent versus the dollar this quarter, its best performance since mid-2015. Against the euro it has risen 1.4 percent since January, and is heading for its best quarter since 2016.
The pound lost 0.3 percent versus the dollar to $1.4030, bringing week-to-date losses to 0.7 percent.
Versus the euro, the pound fell 0.2 percent on Thursday to 87.64 pence per euro.