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According to Reuters, sterling managed $1.5535 earlier this morning (December 30th) before dropping down slightly to remain steady at $1.5493.
Moreover, worries about a fragile outlook for the UK economy still looked to weigh on the pound, but trade happened to be very thin today, the news provider also pointed out.
Geoffrey Yu, currency strategist at UBS in London, said one order can change matters - and the pound is following everything else.
He added: "Going forward we think sterling will stay range-bound against the dollar and the euro, but soft against commodity currencies and the Swiss franc."
This comes after the pound climbed up from around a three-and-a-half month low against its US counterpart yesterday, while there was more thin trade around between Christmas and New Year.
Posted by Greg Secker
