November 15, 2021
Economy

Sterling steadies vs. dollar, set for first weekly loss in five

* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv

By Ritvik Carvalho

LONDON, June 4 (Reuters) – Sterling steadied against the dollar on Friday, making up some of its previous day’s losses although the currency was set for its first week of losses in five due to a broadly strengthening dollar over the past week.

A string of strong economic data releases from the United States has boosted the dollar index – which measures the greenback against a basket of currencies – this week to its highest level since mid-May.

The gains for the buck come as investors expect the Federal Reserve may respond to the economy heating up and move towards tightening policy sooner than expected.

The pound, which is the second best-performing G10 currency against the dollar year-to-date, has also suffered in recent days on…

Read full article here: finance.yahoo.com