Pound hits three-week low vs dollar on weak risk appetite | Malay Mail

LONDON, Aug 17 — Britain’s pound hits its lowest level in three weeks against the dollar today, suffering its worst day in a month as weakening risk sentiment weighed on global stock markets, hitting risk-correlated currencies including the commodity-linked Australian, Canadian and Kiwi dollars.

The market mostly overlooked positive jobs data. As Britain’s economy extended its recovery, payrolls rose by 182,000 in July to 28.9 million, data showed - 201,000 shy of the level seen before the Covid-19 pandemic hit in March 2020. On Wednesday, investors will look to UK inflation figures, with the market consensus expecting inflation to ease.

Sterling has traded in line with risk sentiment in recent weeks, and has been among the top-performing currencies in the ‘G10’ group.

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