Key facts
- Sterling rose 0.1% against the dollar on Thursday.
- Euro zone stocks fell sharply.
- French bond yields rose to new 24-year highs.
- The pound has gained 0.3% against the dollar over the last month.
- The euro has lost 2% against the pound over the last month.
Sterling edged up on Thursday, outperforming other regional markets as investor nerves over high oil prices, the cost of AI buildout and government debt loads rattled riskier assets, particularly in Europe. UK gilt yields were flat, while French, Italian and Belgian debt yields rose sharply. The FTSE 100 fell 0.6% but outperformed the STOXX 600, which was down 1%. Over the past month, sterling has gained 0.3% against the dollar, while the euro has lost 2%. The euro is heading for its fourth straight weekly decline against the pound.