Economic news

Pound sinks, though on track for best quarter since 2015

The pound dipped on Thursday as fresh economic figures failed to inspire investors, but the currency remains on tracks for its best quarter versus the greenback since 2015.

Photo: Reuters

Sterling slid 0.2 percent against the dollar to $1.4050, extending week-to-date decline to 0.6 percent. Against the euro, the British currency lost 0.2 percent to 87.64 pence.

Significant progress in Brexit talks viewed as broadly positive for the UK, and rising anticipations that the Bank of England could soon increase interest rates have supported the pound rally this year to its top since the June 2016 referendum.

Figures on Thursday revised Britain’s fourth-quarter business investment to 0.3 percent from 0pc growth. Outlook for fourth-quarter GDP was left unchanged at 0.4 percent.

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