Sterling fell as much as 0.3% to $1.3880, its weakest since May 6, amid dollar strength and after more than 11, 000 new cases of the disease were recorded on Thursday.
LONDON: The pound dropped to the lowest level against the dollar in more than a month as a surge in coronavirus cases dented confidence in the U.K.’s recovery.
Sterling fell as much as 0.3% to $1.3880, its weakest since May 6, amid dollar strength and after more than 11, 000 new cases of the disease were recorded on Thursday. Sentiment on the pound is at its most bearish since mid-April, according to risk reversals, a gauge of positioning in the options market.
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