Sterling Drops As Dollar Rebounds – 27 June, 2018

Sterling is on track for its biggest daily drop in two weeks as the dollar rebounds. The loss comes with doubts the Bank of England will raise interest rates in August and a lack of progress with Brexit negotiations. The dollar rose due to a softened approach by the U.S. administrations regarding trade-related concerns with Chinese investments. The pound fell 0.7 percent to $1.3127 and 0.1 percent to 88.12 pence against the euro.