LONDON, Nov 25 (Reuters) – Sterling fell on Thursday to a fresh 2021 low against the dollar and to a nine-day low versus the euroas worries over economic growth outweighed expectations for a Bank of England rate hike.
The pound shed 0.1% versus the dollar to $1.3320 at 1644 GMT, and was set for a fifth consecutive daily decline after hitting its lowest level of $1.3307 versus the greenback since December 2020.
Analysts said recent moves have been largely a reflection of the dollar’s appreciation amid expectations that the Federal Reserve will raise interest rates. read more
Register now for FREE unlimited access to reuters.com
But the fact that sterling also fell to a nine-day low against the euro, which has been hit by new COVID-19 restrictions across much of Europe, indicated “that investors are still wary about the headwinds to growth in the UK”, said Rabobank’s head of FX strategy Jane Foley.
Britain’s economic recovery…