Euro (EUR)

AFP

The pound is maintaining its lead against the dollar and is trading up 0.60% at $1.3147.

However, sterling's rise might owe more to a weaker dollar amid reports that US President Donald Trump threatened to impose additional tariffs on Chinese goods.

Craig Erlam, senior market analyst at Oanda, said: "The ongoing conflict between the US and China continues to be a primary driver of market sentiment, with investors concerned about the prospect of a full blown trade war as neither side shows a willingness to blink."

BBC

Against the euro, however, sterling has had a much more volatile day and is now at €1.1243.

BBC

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The pound is up 0.23% against the dollar at $1.3057.

Sterling was given a boost on Monday after the European Union's chief Brexit negotiator Michel Barnier said that a deal with the UK is possible in the next six to eight weeks.

The pound edged down against the euro at €1.1224.

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Sterling is trading up 0.26% against the dollar at $1.2939.

It is also 0.20% ahead of the euro at €1.1119.

The pound was given a lift on Wednesday by reports that Germany - the largest economy in the European Union - and the UK had made progress on a Brexit deal.

Although London and Berlin denied there had been any change, sterling edged higher today.

Valentin Marinov, head of G10 FX strategy at Credit Agricole, tells Reuters: "Brexit negotiations are front and centre for markets, and despite yesterday's headlines the near-term uncertainty is going to persist."

The pound is trading up 0.18% against the dollar at $1.2736.

Sterling is also 0.10% higher against the euro at €1.1187.

The pound is up 0.31% against the dollar at $1.2807.

Sterling is 0.28% ahead against the euro at €1.1217.

The pound has clawed back some losses and is now down 0.09% against the dollar at $1.2759.

Sterling has also extended gains against the euro to rise 0.16% at €1.1212.

Away from the Turkish lira, the pound is trading 0.23% against the dollar at $1.2743.

However, sterling is marginally up against the euro at €1.1195.

BBC

Any hopes that on-target GDP figures for the second quarter would boost the pound have been dashed - it is down 0.37% against the dollar at $1.2777.

The pound is, however, up 0.20% against the euro at €1.1144.

Laith Khalaf, senior analyst at Hargreaves Lansdown, says: "A weak pound and strong dollar does have a tangible knock on effect on the UK economy, as we have seen from the wave of closures and profit warnings from the retail sector. Not everyone loses out from weaker sterling though, exporters and the domestic tourist industry should benefit, as do stock market investors, thanks to the international revenue streams of Footsie companies.

"However oil and other commodities are priced in dollars, which means higher energy bills and petrol prices for UK consumers, against a backdrop of weak wage growth, so the squeeze we have seen on discretionary spending looks like it has a bit further to run."

He adds: "All of this suggests the shackles are still on the UK economy, and that spells more or the same in terms of interest rate policy for the foreseeable future."

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The pound has fallen below $1.28 against the dollar.

It is down 0.24% at $1.2794.

BBC

However, sterling is up 0.41% against the euro at €1.1168.