ANL 10.96 Decreased By ▼ -0.16 (-1.44%)
ASC 10.05 Increased By ▲ 0.07 (0.7%)
ASL 12.05 Increased By ▲ 0.20 (1.69%)
AVN 71.10 Decreased By ▼ -0.14 (-0.2%)
BOP 6.00 Increased By ▲ 0.05 (0.84%)
CNERGY 5.27 No Change ▼ 0.00 (0%)
FFL 7.15 Increased By ▲ 0.45 (6.72%)
FNEL 6.15 Increased By ▲ 0.05 (0.82%)
GGGL 11.75 Decreased By ▼ -0.11 (-0.93%)
GGL 15.85 Decreased By ▼ -0.07 (-0.44%)
GTECH 9.30 Decreased By ▼ -0.05 (-0.53%)
HUMNL 6.61 Increased By ▲ 0.05 (0.76%)
KEL 2.55 Decreased By ▼ -0.03 (-1.16%)
KOSM 3.06 No Change ▼ 0.00 (0%)
MLCF 28.60 Decreased By ▼ -0.10 (-0.35%)
PACE 2.98 Decreased By ▼ -0.01 (-0.33%)
PIBTL 6.04 Decreased By ▼ -0.05 (-0.82%)
PRL 15.66 Increased By ▲ 0.61 (4.05%)
PTC 7.30 Increased By ▲ 0.13 (1.81%)
SILK 1.31 Increased By ▲ 0.07 (5.65%)
SNGP 26.50 Increased By ▲ 0.35 (1.34%)
TELE 10.82 Decreased By ▼ -0.13 (-1.19%)
TPL 9.03 Decreased By ▼ -0.02 (-0.22%)
TPLP 15.85 Decreased By ▼ -0.07 (-0.44%)
TREET 29.90 No Change ▼ 0.00 (0%)
TRG 75.70 Decreased By ▼ -1.30 (-1.69%)
UNITY 22.42 Decreased By ▼ -0.03 (-0.13%)
WAVES 13.50 Increased By ▲ 0.55 (4.25%)
WTL 1.62 Increased By ▲ 0.07 (4.52%)
YOUW 5.02 Decreased By ▼ -0.02 (-0.4%)
BR100 4,281 Increased By 8.1 (0.19%)
BR30 14,910 Increased By 12.9 (0.09%)
KSE100 43,101 Increased By 117.3 (0.27%)
KSE30 16,367 Increased By 17 (0.1%)

LONDON: The pound fell against the dollar on Thursday as data showing an increase in hiring by private employers in the United States pointed to a rapidly recovering economy, which lifted the greenback. Investors had piled on bets against the dollar in recent months but have lately grown more cautious, wondering whether a surprisingly strong US economic rebound threatened the theory that interest rates will stay low for a long time.

Sterling fell 0.43% to $1.4108 following the stronger than expected US private payrolls data, having touched a three-year high of $1.4250 earlier this week, not far off its post-Brexit peak of $1.4307 in April 2018.

The pound edged up 0.2% against the euro to 85.97 pence.

Investors are waiting for firmer signals as to whether growing cases of a Covid-19 variant first found in India could delay the wider reopening of the British economy due on June 21.

Britain's currency has been a top performer among its G10 peers this year, buoyed by optimism around the country's rapid vaccination programme and hopes its economy will therefore rebound quicker than some others.

Those hopes have frayed in recent weeks, however, as rising cases of the Covid variant now known as Delta led Prime Minister Boris Johnson to say he would be cautious in lifting restrictions on travel and social distancing.

The government is mulling a delay to the June 21 date for the lifting of the remaining restrictions, according to media reports on Wednesday.

Comments

Comments are closed.