Listen to this article
This is an experimental feature. Give us your feedback.Thank you for your feedback.
What do you think?
Currency markets were stable in early Asia trading on Tuesday following a bumpy session for the pound a day earlier.
The British currency was 0.1 per cent firmer against the US dollar on Tuesday at $1.3121. Sterling swung on investor concern over British politics on Monday, dropping by as much as 1 per cent to a low of $1.3063 before recovering somewhat to trade down 0.6 per cent, just above the $1.31 mark.
The US dollar continued to struggle to find traction against major regional currencies as participants remained focused on Washington and developments on the US tax reform front. The dollar index, measuring the greenback against a basket of peers was flat.
The New Zealand dollar was among the biggest movers, down 0.3 per cent at $0.6884. The Japanese yen was down 0.1 per cent at ¥113.68.
The Korean won strengthened 0.2 per cent to Won1,117.20 while the Australian dollar added 0.1 per cent to trade at $0.7627.