Sterling falls to near 3-week lows on dollar gains, politics

LONDON: Sterling fell to near three-week lows on Tuesday as a broader rise in the US dollar and fresh political headwinds for embattled British Prime Minister Boris Johnson unnerved investors.

In early London trading on Tuesday, the British currency fell 0.73% to its lowest level since May 19 at $1.2433.

Against the euro, the pound weakened by 0.5% to 85.76 pence.

Sterling hits highest since May 5

Johnson won the confidence vote 211 to 148, but his 59% share of the vote was less than the 63% achieved by his predecessor Theresa May in her confidence vote of December 2018 who was replaced seven months later.