Sterling recovers from 10-year low vs euro overnight

LONDON: Sterling was recovering Monday morning after plunging to a 10-year low against the euro overnight amid bleak British economic data and no-deal Brexit jitters.

Second-quarter gross domestic product unexpectedly contracted in June, raising concern a recession was looming in Britain. That put pressure on sterling and British government bond yields -- the spread between 10-year Gilt yields and U.S. Treasury yields shrank Monday to its lowest since Aug. 6.