Economic news

Pound wobbles at three-week trough ahead of May's speech

Sterling fluctuated not far from a three-week trough on Wednesday as traders remained cautious ahead of services survey figures and Prime Minister Theresa May’s main conference address due later in the day.

Photo: Reuters

The British currency was virtually unchanged at $1.2996 and firmed versus the euro at 89.06 pence.

The UK's services sector is expected to increase to 54 compared to 54.3 in the previous month, according to a Reuters survey.

The pound has been affected by worries over a rising conflict over PM’s Brexit plan with the currency sliding to a Sept. 10 trough of $1.2979 on Tuesday.

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