• / Free eNewsletters & Magazine
  • / My Account
Home>British pound drops, set for worst week in a year on talk of early U.K. election

British pound drops, set for worst week in a year on talk of early U.K. election

British pound drops, set for worst week in a year on talk of early U.K. election

10/06/2017

By Barbara Kollmeyer, MarketWatch

Dollar rises ahead of nonfarm payrolls report

The British pound extended losses on Friday, as speculation grew that a general election could be called in the U.K., as questions grow about whether Prime Minister Theresa May can hang onto her job.

Meanwhile, the U.S. dollar was rising as investors awaited fresh data on jobs growth.

Where are currencies trading?

The ICE U.S. Dollar Index , which measures the U.S. currency against six rivals, was up 0.13% to 94.010. The WSJ U.S. Dollar Index , which is a broader measure of the greenback, gained 0.19% to 87.12.

The British pound was buying $1.3070, from $1.3118 late Thursday in New York, and was hovering at levels not seen since early September. Against the euro, the pound was off about 0.1%, with one euro buying GBP0.8939.

Read: Sterling has a long way to fall, as snap election risks mount in the U.K. (http://www.marketwatch.com/story/sterling-has-a-long-way-to-fall-as-snap-election-risk-mounts-in-the-uk-2017-10-05)

©2017 Morningstar Advisor. All right reserved.