Economic news

Pound firms amid May's closest ally dimission

The pound was stable on Thursday in thin trade after sliding initially following a survey that showed consumer sentiment had dropped to a four-year trough and news that one of Theresa May's closest allies had been forced to resign.

The British currency was steady versus the greenback at 1.338 after earlier falling 0.1 percent. Against the euro sterling bounced back and was flat at 0.88.

The GfK consumer confidence index showed UK consumer confidence hit four-year low as households have been hit by higher inflation.

British Prime Minister Theresa May has fired her ally Damian Green after an internal investigation found he had lied about the presence of pornographic images on his House of Commons computer.

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