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Currency: The pound weakens against the dollar

21/07/2021
Categories: Economy/Forex

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In a chilly market, the British pound suffered against the dollar on Tuesday. The market is worried about the rise in Covid-19 contamination, which is particularly high in the United Kingdom.

While the euro lost 0.13% to 1.1785 dollars against the greenback, after hitting a low since early April at 1.1764 dollars per euro the day before, the pound faltered. A little after 09:00 GMT (11:00 CET), the pound sterling lost 0.11% against the greenback at 1.3660 dollars for one pound, while it stabilized against the single European currency (+0.02% at 86.27 pence for one euro). At the start of European trading, it fell to its lowest in five and a half months against the dollar, at 1.3627 dollars, and in a month and a half against the euro, at 86.44 pence for one euro. The UK lifted its latest health restrictions on Monday, a "Freedom Day" greeted halfheartedly by markets as positive cases surged in the UK as the Delta variant spread. On the other side of the Channel, traders were waiting for the European Central Bank (ECB) press conference on Thursday, after its monetary policy meeting.

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