Buoyant sterling steadies above US$1.41 after best day since January | Malay Mail

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LONDON, May 11 — Sterling steadied above US$1.41 (RM5.80) today after posting its best day against a weakening dollar at the start of the week on market relief over Scottish election results, improved economic forecasts, and lockdown easing measures. Analysts say the results of the Scottish...

Tuesday, 11 May 2021 05:48 PM MYTSubscribe to ourLONDON, May 11 — Sterling steadied above US$1.41 today after posting its best day against a weakening dollar at the start of the week on market relief over Scottish election results, improved economic forecasts, and lockdown easing measures.

Any second referendum on Scottish independence requires the approval of the British government and Prime Minister Boris Johnson has ruled this out. By 0747 GMT, sterling was 0.1 per cent higher against the dollar at US$1.4135, shy of the 2-1/2-month peak of US$1.4158 hit yesterday.“Euro-sterling moved a full figure lower yesterday to below 86 pence, as investors moved beyond the Scottish Parliament election,” said Mikael Olai Milhøj, chief analyst at Danske Bank.

 

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