LONDON, Ramadan 05, 1438, May 31, 2017, SPA -- Sterling dropped on Wednesday, Reuters reported. The euro ticked lower as traders awaited inflation data for further clues on economic recovery in Europe, while the dollar recovered some ground against the yen. The pound fell nearly half a percent in Asian trade to $1.2788, approaching the one-month low of $1.2775 touched on Friday. It was last down 0.3 percent at $1.2813. It also slipped to as low as 87.38 pence per euro, near Friday's eight-week low of 87.50. The dollar recouped losses after touching a 12-day low versus the safe-haven yen on Tuesday, the greenback, which fell to 110.665 yen on Tuesday, last traded up 0.1 percent at 110.90 yen, staying within recently traded ranges. The dollar index which measures the greenback against a basket of peers, edged up 0.1 percent to 97.367, holding well above last week's 6-1/2-month low of 96.797. --SPA 13:01 LOCAL TIME 10:01 GMT
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