LONDON, June 1 — The pound rose to a three-week high against a broadly weaker dollar today as Britain relaxed lockdown restrictions, but the market’s net short position on sterling is the largest in more than five months, suggesting traders remain negative. The pound is being weighed down by a...
Monday, 01 Jun 2020 07:30 PM MYT
LONDON, June 1 — The pound rose to a three-week high against a broadly weaker dollar today as Britain relaxed lockdown restrictions, but the market’s net short position on sterling is the largest in more than five months, suggesting traders remain negative. New rules designed to ease the lockdown in England came into force today, even though scientists warned that, in the absence of a functioning system to track new outbreaks, the move was risky.A fourth round of trade talks on relations with the European Union following Britain’s departure from the bloc will start this week. Britain has until July 1 to ask for an extension to the current transition period which is due to end in December.
Against a broadly weaker dollar, the pound hit a three-week high of US$1.2425 around 0800 GMT, before easing slightly. It was last at US$1.2390.“We prefer to back the EUR over GBP this week and feel 0.91 should be the target for EUR/GBP this June,” ING strategists wrote in a note to clients.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China reports 16 new Covid-19 cases, highest in nearly three weeks | Malay MailBEIJING, June 1 — China reported the highest daily increase in coronavirus cases in nearly three weeks with 16 new infections discovered on May 31, as the number of so-called imported cases jumped in southwestern Sichuan province. The National Health Commission (NHC) said in a statement today...
Read more »
Hong Kong reports first local Covid-19 cases in two weeks | Malay MailHONG KONG, June 1 — Hong Kong has confirmed its first locally transmitted coronavirus cases in more than two weeks, fuelling concerns over its spread as restrictions on movement are relaxed. The Centre for Health Protection (CHP) said yesterday it was investigating two confirmed cases of...
Read more »
Foreign fund outflow rises to RM589.6m this week | Malay MailKUALA LUMPUR, May 31 — Foreign investors continued to remain as net sellers this week, as total net outflow rose to RM589.62 million from RM394.34 million recorded last week. The local equities market resumed trading on May 27, after being closed on Monday and Tuesday for...
Read more »
Russia, after approving Japanese Covid-19 drug, to roll out ‘game changer’ next week | Malay MailMOSCOW, June 1 — Russia will start administering its first approved antiviral drug to treat coronavirus patients next week, its state financial backer told Reuters, a move it described as “a game changer” that should speed a return to normal economic life. Russian hospitals can begin giving...
Read more »
Foreign selling of local equities softened last week, says research house | Malay MailKUALA LUMPUR, June 1 — The intensity of foreign net selling activity on Bursa softened during the holiday-shortened week with international investors sold RM663.8 million net of local equities last week compared to RM714.7 million in the preceding week, said MIDF Amanah Investment Bank Bhd. Its...
Read more »
US ups National Guard forces to quell Washington unrest, readies active duty troops | Malay MailWASHINGTON, June 2 — The US military is sharply increasing the number of National Guard forces in Washington and, in an extraordinary move, has readied active-duty troops outside the city to potentially respond to protests over the death of an African-American man in police custody, a senior...
Read more »