Sterling Stabilizes Ahead of BoE Speakers

Sterling traded just over a cent above this week’s lows against the dollar and steadied against the euro on Friday, with several Bank of England policymakers due to speak and markets keen for clues on whether another cut in interest rates is likely.

The pound has found a foothold after a round of heavy losses this week, sparked by last Friday’s tumble, but some investors are still prepared to back it to recover much of that ground.

European Council President Donald Tusk, who will run the Brussels side of Britain’s negotiations on leaving the EU, warned on Thursday that the bloc will not offer London any softer terms than a “hard Brexit”.

Reuters

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