Sterling is refusing to budge after its snap election surge
|04/19/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON — The value of the British pound is barely budging from above $1.28, nearly 24 hours after Prime Minister Theresa May confirmed that she will seek to hold a general election on June 8.
By 11.00 a.m. BST (6.00 a.m. ET) on Wednesday sterling has moved down just 0.1% against the dollar on the day, having gained more than 2% during trading on Tuesday.
Here is the chart:
Commenting on the day’s movements, Kathleen Brooks of City Index writes in an email:
“GBP/USD is backing away from the 1.2860 high from earlier in the session today, but after a 300-point jump in read more >>>