"I'd imagine investors being a little hesitant to buy sterling in the very short term," said Niels Christensen, currency strategist with Nordea. "We have this political uncertainty around how strong will the new government be, how difficult will it be to get through with its politics domestically, and the Brexit negotiations beginning in a week or two. "May reappointed most of her ministers on Sunday but brought a Brexit campaigner and party rival into government to try to unite her Conservatives. "It is hard to see sterling performing well over the summer given the possibility that the current state of political uncertainty could last for some time," wrote Simon Derrick, chief market strategist at Bank of New York Mellon. As a result there is a view that this would prove mildly supportive for sterling."

Source: thestar June 12, 2017 08:48 UTC