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Sterling rises versus weaker euro; dips back below $1.30

Published : Friday, 31 July, 2020 at 12:00 AM  Count : 100

LONDON, July 30: Sterling rose against a weaker euro but fell versus the dollar on Thursday after the $1.30 level reached late in the previous session did not hold, with Brexit and the economic fallout from coronavirus weighing on the currency.
Global market sentiment was boosted late on Wednesday after the head of the US Federal Reserve, Jerome Powell, said the bank would "do what we can, and for as long as it takes" to limit the coronavirus damage to the United States' economy, but optimism was tempered by record-high Covid-19 infections.
The dollar fell while Powell was speaking, with the pound reaching $1.30 for the first time since early March, but the dollar recouped some recent losses early on Thursday. -Reuters

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