Sterling set for recovery

Sterling set for recovery

The FTSE 100 had a slow start to the trading week, down 0.186pc at 7,710.20, as the rebound of the pound dragged on the top stocks index.

Brent crude was flat at $77.11 as resistance to US sanctions on Iran appeared across Europe and Asia with expectations of higher US production.

Prospects of softening US-China trade tensions helped support global stocks ahead of trade talks between the two nations later this week.

Sterling was up 0.4pc at $1.3589 against the dollar on the back of a weakening US currency and the focus of investors turning to economic data that could help the pound recover from last week’s Bank of England decision to hold interest rates.

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