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Sterling firms against euro ahead of UK lockdown extension
Thursday, 16 April 2020 15:59 WIB | CURRENCIES |Poundsterling EuroCurrencyDOLLAR

The pound steadied on Thursday, slipping slightly against the dollar but holding firm against the euro, ahead of an expected announcement about an extension of Britain's lockdown imposed to curb the spread of coronavirus.

The British government is expected to announce that it will extend the lockdown in the UK for a further three weeks at its daily coronavirus news conference around 1700 London time, after an emergency response committee meeting at 1530.

Michael Hewson, chief market analyst at CMC markets said the lockdown extension was already priced into the pound. Sterling is more driven by the dollar's strength and the euro™s potential to weaken than by domestic factors, he said.

Versus a stronger dollar, the pound was down 0.2% at $1.2485 . It was little changed against the euro, at 87.05 pence .

Source : Reuters

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