The pound fell against the dollar, but rebounded from its lowest level in 3 months against the euro. The European currency has rebounded in recent sessions against most currencies after a bruising month as investors become somewhat less concerned about the impact of the war in Ukraine on the Eurozone economy.

The pound slid against the dollar in Thursday morning trading, dragged down by a general decline in riskier currencies as investors worried about uncertainties related to the war in Ukraine. Absent any major economic or political news, the pound has drifted in recent sessions against the dollar. Around 0935 GMT, the pound weakened 0.1% to $1.3124.

Against the euro, it edged up to 84.8 pence, reversing some of the recent weakness that saw the British currency hit a three-month low in Asian trading hours.