Sterling near eight-month high but caution dominates

pound against dollar

The pound continued to trade near an eight-month high against the US dollar on Monday, as political uncertainty showed no signs of loosening its grip on the US currency, reports the Independent.

Early in London, sterling was trading just under $1.30, having cracked through that psychologically important mark for the first time since late September last week.

The dollar was trading slightly higher against a slew of currencies. Last week it slumped to its lowest level in six months, after reports that Donald Trump had asked former FBI Director James Comey to end an investigation into National Security Adviser  Michael Flynn during an Oval Office visit back in February.

The pound continued to trade near an eight-month high against the US dollar on Monday, as political uncertainty showed no signs of loosening its grip on the US currency.

Early in London, sterling was trading just under $1.30, having cracked through that psychologically important mark for the first time since late September last week.

The dollar was trading slightly higher against a slew of currencies. Last week it slumped to its lowest level in six months, after reports that Donald Trump had asked former FBI Director James Comey to end an investigation into National Security Adviser  Michael Flynn during an Oval Office visit back in February.

Because of that, they said that they still favour the euro over the pound.

Elsewhere on Monday, the FTSE 100 rose cautiously. Major stock indices in France and Germany were little changed.