Sterling falls on Thursday, weakest since Jan. ’25

The pound sterling slid to 83.85 pence per euro on Thursday, its weakest level since January, as the euro strengthened on optimism over Germany’s planned €500 billion infrastructure fund. Sterling has fallen 1.5 per cent this week, heading for its largest weekly drop since January 2023.

Sterling also dipped 0.1 per cent against the US dollar after briefly hitting a four-month high of $1.2924. Meanwhile, UK construction activity slumped, with the S&P Global/CIPS PMI falling to 44.6 in February, its lowest since May 2020, as rising costs and trade uncertainty weighed on confidence.

Attribution: Reuters

Subediting: M. S. Salama