Sterling steadies versus dollar, euro after hard profit-taking knock

By Reuters4 days ago

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By Tom Wilson

LONDON, April 8 (Reuters) - Sterling on Thursday stabilised against the dollar and euro, staunching some of its losses after a bruising bout of profit-taking a day earlier.

The pound slumped 0.6% to a one-week low against the dollar and around 1% against the euro on Wednesday as investors took cash off the table after a strong first quarter for the British currency.

But by 0847 GMT on Thursday, sterling was flat against the dollar at $1.3725, according to Yahoo! Finance, having touched its lowest this month a day earlier.

Against the euro, it traded down slightly at 86.42 pence per euro, according to Yahoo! Finance, after its worst day against the single currency in five weeks.

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