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Sterling steadies below two-week highs versus dollar

Mount Equity Group Tokyo Japan > News > Markets > Sterling steadies below two-week highs versus dollar

* Graphic: World FX rates in 2020

* Graphic: Trade-weighted sterling since Brexit vote

LONDON, Sept 1 (Reuters) – Sterling steadied on Wednesday close to two-week highs versus the dollar, with the pound taking its cue from other currencies given this week is light on data and Bank of England speakers.

The pound was last trading at $1.3756, unchanged on the day and below two-week highs reached on Tuesday of $1.3807.

Against the euro the pound was also little moved, trading at 85.855 pence.

Last week’s Jackson Hole symposium, at which Federal Reserve Chair Jerome Powell sounded a more dovish tone on the outlook for monetary policy than expected, led to further selling in the dollar, supporting the pound’s move higher.

But currency market moves were very small on Wednesday as investors took stock at the start of a new month and ahead of U.S. jobs data due at the end of this week.

Analysts said…

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