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Sterling slips back with euro on persistent UK fiscal angst despite BoE bond-buying - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Sterling retreated again on Thursday from a sharp bounce against the dollar overnight, after the Bank of England announced unlimited bond purchases to shore up Britain’s financial markets battered by the government’s radical plans to cut taxes.

Sterling was 0.51% lower at $1.0831 as of 1200 GMT, returning some of the previous session's 1.41% rally.Sterling was 0.51% lower at $1.0831 as of 1200 GMT, returning some of the previous session's 1.41% rally.

The euro weakened 0.32% to $0.97065, following Wednesday’s 1.51% surge, the biggest since early March. “Concerns about the UK’s fiscal plan and its broader economy suggest GBP will likely stay offered against the USD and other major currencies in the near term.”

 

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