Sterling Rises as Sunak Prepares to Become PM, Euro Awaits ECB Hike

Sterling Rises as Sunak Prepares to Become PM, Euro Awaits ECB Hike
Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken on June 15, 2022. Florence Lo/Reuters
Reuters
Updated:

LONDON—Sterling rose on Tuesday supported by improved risk sentiment as Rishi Sunak prepared to become Britain’s prime minister, while the euro steadied ahead of an expected rate hike by the European Central Bank (ECB) on Thursday.

The U.S. dollar edged up but was not far from its lowest level in October amid signs Federal Reserve rate hikes are slowing the world’s biggest economy.