British Optimism Helps Sterling Gain – 17 August, 2018

Continued uncertainty about Britain and the European Union reaching a trade deal amongst Brexit talks leaves economists cautious about sustaining sterling strength. The dollar fell across the board and sterling gained on Friday, with traders remaining optimistic and seeing a buying opportunity with the UK economy managing to hold itself up. After falling to a near 14 month low against the dollar, sterling managed to gain from $1.2662 to $1.2730. Third quarter data is looking promising due to British shoppers spending more than expected. Against the euro, sterling ended the week at 89.58 pence per euro.