Market News
Sterling hits 14-month low after US jobs data, gilt yields rise - REUTERS
Summary
- Sterling touches new 14-month low
- Thirty-year gilts touch highest since July 1998
- Ten-year gilt yields set for biggest weekly rise in a year
- Dollar gains 1.5% against the pound on the week
Jan 10 (Reuters) - British assets remained under pressure on Friday from high global borrowing costs, with sterling falling for the fourth day in a row and better-than-expected U.S. jobs data intensifying the move, while gilt yields rose for a fifth consecutive day.
After recording a moderate decline earlier in the day, the pound continued its slide and gilt yields jumped after U.S. government data showed employers added far more jobs than expected in December.
