Sterling on back foot

Posted by 7Star Wednesday, April 8, 2009

Sterling was little changed against the dollar on Tuesday, recovering from losses earlier in the day, after the UK currency climbed to a one-month high against a broadly weaker euro. The pound stayed below a two-month high hit versus the dollar the previous day, after weak UK data and a 1.2 percent fall in domestic shares signalled a dip in risk appetite, keeping the currency on the back foot.

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