The pound held steady against the dollar and nudged up against the euro on Monday, after hitting its weakest since November last week.

Investors have cut back their bets in either direction on the pound and hold a fairly neutral stance, based on weekly data from the U.S. markets regulator.

Sterling was flat at $1.2367 at 0757 GMT, having touched its lowest in five months last week.

The performance of the pound is often more obvious against the euro, as it keeps the dollar out of the equation. Sterling has lost around 3% in value against the dollar in 2024, mostly due to traders drastically reassessing how much U.S. interest rates might fall by this year.

Against the euro, the pound is still up 0.45%, but its advantage over the single European currency has eroded sharply in the last week or so.

The euro was up 0.1% against the pound at 86.21 pence.

Source : Reuters