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Sterling is making a poor start to the new trading week, dropping by half a cent against the US dollar.
The pound has dropped to $1.358, wiping out most of Friday’s gains. Traders are watching political tensions built in Westminster, as the uncertainty over Keir Starmer’s future could weaken demand for UK assets.
Some of that [the pound’s weakness] is to do with the US dollar catching a bid on the reopen this morning on risk aversion flows after the Iranian response to the US peace plan.
“We know passengers want certainty when planning their hard-earned summer holidays, so we are supporting Government and airlines as they work through their plans to get passengers on their journeys.
While we have seen some short‑term disruption linked to the Middle East conflict, demand for travel remains strong with current fuel supplies stable. April was still our busiest month so far this year, underlining the strength of a global hub airport that can adapt quickly in times of uncertainty.”
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