Market News
Sterling dips as investors take profit on 'Rachel rally' - REUTERS
LONDON, Dec 1 (Reuters) - The pound edged lower on Monday, as investors took some profits on November's modest gains ahead of a widely expected interest rate cut later this month.
Sterling gained more than 1% last week, marking its largest weekly gain since early August, lifted by a relief rally after finance minister Rachel Reeves' long-awaited budget soothed some concern about Britain's long-term finances.
The pound was last down 0.13% against the dollar at $1.3226, while dropping against the euro, which rose 0.3% to 87.89 pence .
