The pound sterling rose on June 6 with the dollar getting weaker — from a 2018 high of more than $1.43 in April to below $1.33.
Sterling rose 0.2 percent to $1.3417 but fell 0.2 percent against the European Union currency to 87.645 on June 5.
Pound Sterling Today: âUndervaluedâ Pound may still be a buying opportunity https://t.co/FnNkHqeDJm— Exchange Rates UK (@exchangeratesuk) June 6, 2018
MUFG — the Japan-based global financial services giant, have reportedly said they "remain sceptical over pound gains on positive macro news until we have clarity from the government on Brexit."
On June 4, UK business leaders have expressed the urgent need for "clarity and certainty, because time is running out," while the conditions on which Britain leaves the bloc and potentially the EU single market are still obscure.
This afternoon the PM chaired a meeting of her Business Advisory Council, updating the roundtable on the Modern Industrial Strategy and negotiations with the EU. Read more here: https://t.co/IbmsfgVWNZ— UK Prime Minister (@10DowningStreet) June 4, 2018
The EU summit on June 28-29 is meant to clarify the terms of Britain's exit from the bloc, as the UK is due to leave the EU on March 29, 2019.