Market News
Sterling steady against dollar, traders digest UK-EU reset deal - REUTER
(Reuters) May 20 - The pound held steady against the dollar on Tuesday but stayed close to a near three-week high hit on Monday after Britain agreed a major trade and defence reset with the European Union.
At 1138 GMT, the pound was flat against the dollar at $1.33640 , having earlier risen around 0.25%.
The pound hit $1.34030 on Monday, its highest level since April 30.
"Yesterday’s big news in terms of the new UK-EU deal was a mild positive for sterling, although we don’t think it moves the needle substantially on growth given the relatively small size of the animal livestock and border crossing arrangements that have been made," said Chris Turner, head of FX strategy at ING.
