COVID in China sets sterling for biggest daily fall in two weeks

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Reuters UK

By Joice Alves LONDON (Reuters) – Sterling slipped against a strengthening U.S. dollar on Monday as global risk sentiment was dented by rising COVID-19 cases in China, which led to new restrictions in the world’s second largest economy. Risk-sensitive sterling was down 0.6% to $1.1816, on track for its biggest daily decline against the U.S. dollar in almost two weeks as China battles numerous COVID flare ups. “Sterling has opened the week on the back foot, in line with broad risk dynamics… Broad risk negativity weighs amidst renewed Chinese lockdown fears,” said Jeremy Stretch, head of G10 F…

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