The British pound dropped a third of a cent versus the euro, but recovered versus the US dollar Tuesday, in a trade led by economic data.
Sterling gained 0.7%, reflecting certain political concerns prior to next month’s general election.
Against the euro and the greenback, the pound ended at 72.25 British pence and $1.4774, respectively.
Today’s move is down to the dollar’s shift, “almost in its entirety,” said Michael Sneyd, Strategist at BNP Paribas.
Earlier, the currency fell half a cent against the dollar following UK headline inflation was at zero for the second straight month, while the Office for National Statistics reported consumer prices climbed 0.2% between February and March.
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