After April gains, pound slips as Brexit, economy weigh | Malay Mail

Sterling registered a 1.4 per cent gain against the dollar in April, rallying hard last week. But with speculators turning negative on the pound for the first time since December 2019 , analysts say the currency’s near-term future looks gloomy. — AFP pic

But, underlining what sources in Brussels say is an impasse at talks since Britain left the EU in January, French officials later reiterated the 27-nation bloc’s position that London must make concessions for a deal to be reached this year. “Cable has enjoyed a healthy rally over the last week but may struggle to break through US$1.2650,” strategists at ING said in a note.Economic surveys in the UK didn’t help sentiment.

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