Pound Erases This Year’s Advance as Dollar Rally Gains Momentum
- Greenback strengthens as traders price risk of Trump tariffs
- Sterling was the last G-10 currency still up against dollar
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The pound has relinquished its advance against the dollar this year as investors anticipating stronger US growth and inflation pile into the greenback.
After seven straight weeks of losses, sterling has fallen back below the level it started the year, to trade at $1.2615 on Friday. While the pound still looks better than many other peers, that’s the longest weekly losing streak in a decade and erases gains of more than 5%.