Sterling Inches Off Lows after Biggest Weekly Drop This Year
Monday, 20 May 2019 23:22 WIB | CURRENCIES |poundSterling,Poundsterling

Sterling inched away from its weakest levels since January on Monday as Britain's prime minister made a last-ditch bid to get a Brexit deal through parliament before she leaves office, though scepticism from the opposition Labour Party capped gains.

After failing three times to get parliament's approval for her EU divorce deal, Theresa May said she would present a œnew, bold offer to lawmakers with œan improved package of measures in a final attempt to secure a Brexit deal.

Though there is widespread scepticism that any such deal will get ratified by lawmakers, sterling rose 0.1% higher against the dollar to $1.2732. That followed a drop of 2.2% last week, its worst week since October 2017.

The British currency was marginally down against the euro on Monday at 87.775 pence.

Source : Reuters

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