The pound has fallen over 15 percent since last June's vote for Brexit, although it has recovered some ground since the 31-year lows hit in October and even popped above $1.30 last month on bets that the Conservative party would increase its parliamentary majority in elections held last week. However, with no party taking a majority, the pound sank as investors worried that a minority government would bring turmoil and could weaken Britain's hand in exit negotiations with the European Union.
Sterling stable in a steadier Friday trade
Sterling inched up against the dollar on Friday, ending the week just a touch higher than where it began as political and economic worries counterbalanced the surprise of three Bank of England policymakers voting in favour of a rate hike. Sterling surged to its highest in a week against the euro on Thursday after it emerged that the central bank's monetary policy committee had seen a 5-3 split on whether to raise interest rates immediately, amid rapidly increasing domestic consumer prices.
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