Stock indexes worldwide rebounded on Wednesday, and the euro and pound sterling bounced back as easing geopolitical concerns and upbeat economic data from China
The British pound rose on Tuesday as opposition parties vowed to try and pass a law to prevent a no-deal Brexit at the end of October, encouraging traders to buy sterling even though most fear the country is headed for a disorderly exit from the EU.
Global stock markets mostly climbed on Monday after China unveiled fresh stimulus measures, while below-par US jobs data reinforced expectations the Federal Reserve would cut interest rates this month.
Bank of England (BoE) Chief Economist Andy Haldane said on Thursday he remained confident that Britain’s economy was poised for a quick bounce-back as the country races ahead with its coronavirus vaccinations and restrictions are lifted.
Britain pledged a further 1.5 billion pounds ($2.06 billion) in tax relief for companies hit by the coronavirus crisis but which until now had not qualified for exemption from paying business rates,
The pound, which has fallen sharply in recent weeks as investors fretted that Johnson's plan sharply increased the risk of a no-deal Brexit, was 0.4% higher at $1.2891, moving away from two-week lows.
Versus the dollar, sterling was up 0.1% at $1.2733, having hit a two-month low of $1.2676 on Wednesday. Against the euro, the pound was flat at 91.53 pence.
Versus the dollar, sterling was up 0.3% at $1.2784 by 0823 GMT, after hitting a two-month low of $1.2676 on Wednesday . Against the euro, sterling was also up 0.4% at 91.24 pence. , after hitting a one-week high of 91.13 on Thursday.
Sterling fell 0.51% to $1.2751 against the dollar, the lowest level since July 24 while the pound was down 0.25% against the European common currency at 92 pence.