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Sterling climbs above $1.38 against broadly weaker dollar

Mount Equity Group Tokyo, Japan > News > Markets > Sterling climbs above $1.38 against broadly weaker dollar

(Recasts, updates prices)

By Iain Withers

LONDON, July 26 – Sterling climbed above $1.38 against a broadly weaker dollar on Monday, supported by encouraging data the previous day showing a fall in COVID-19 cases in Britain.

The dollar lost ground across the board as investor focus turned to this week’s meeting of the U.S. Federal Reserve.

Sterling has held up better than most major currencies in recent weeks, supported by Britain’s high vaccination rate at a time when the Delta variant has caused cases to surge worldwide.

The pound was the second-best performing G10 currency over the previous week’s five-day trading period.

On the day sterling hit 10-day highs against both the dollar and euro. Against the dollar it gained 0.6% to $1.38320, while against…

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