Sterling gives up six-week high on profit-taking

Sterling fell in European trade away from six-week highs against dollar on profit-taking, before talks are resumed between UK and EU on Brexit. 


GBP/USD fell 0.25% to 1.3116, after closing up 1.6% yesterday, the largest gain since March 27.


The largest profit in seven months came as the dollar plunges while UK-EU trade talks take a more positive turn.


The dollar index rose 0.2% on Thursday, the first profit in five days away from seven-week lows at 92.47. 


The Guardian reported a resumption of UK-EU trade talks on Thursday and through the weekend to reach a final deal in the last few weeks of the transition period. 


Both sides hope for compromise before transition ends on December 31.

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Posted By laraparker : 22 October, 2020
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