LONDON: Sterling was on track on Friday for weekly gains against the dollar and euro to start 2022, despite a mixed picture emerging for Britain’s economy.
The currency has strengthened since mid-December in part due to the Omicron variant of COVID-19 proving less disruptive to the economy than originally feared, analysts have said, with the government only lightly tightening restrictions so far.
Sterling was heading for a 0.4% gain versus the dollar for the week and 0.6% up against the euro.
On the day, the pound was up 0.3% versus the dollar at $1.35720.
Sterling’s gains partly reflected a weaker dollar across the board, after a December US jobs report missed expectations.
Against the euro, the pound fell 0.2% to 83.585 pence per euro.
Economic survey data this week showed Omicron has had an impact. Survey data for Britain’s construction sector on Friday showed growth cooled in December, falling to a three-month low.
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