Market News
Sterling eases after scorching August rally - REUTERS
LONDON, Sept 3 (Reuters) - The pound eased on Tuesday, edging lower against both the dollar and the euro, as investors booked some profit on sterling's largest monthly rally in 10 months ahead of a key read of the U.S. jobs market later this week.
Data on Tuesday showed summery weather in August helped boost UK consumer spending, as shoppers splashed out on food and drink, although this did little to support the pound.
Sterling , which gained 2.13% in August in its strongest monthly increase since November 2023, was down 0.2% against the dollar at $1.31165 in early trade, some 1.2% below last week's two-year high of $1.3269.
