Pound edges up against dollar, while yen falls

The pound inched higher against the dollar on Monday, with credit going in part to buzz around a possible U.K. corporate tax cut that could boost Britain’s economy.

Meanwhile, Japan’s yen fell against the buck as haven demand eased, and the Australian dollar was volatile after an inconclusive election Down Under.

The pound GBPUSD, -0.7375%  traded up 0.1% to $1.3284, recovering further from its late-June slump sparked by concerns about the U.K. vote to leave the European Union.

The mild gains for sterling come after U.K. Treasury chief George Osborne said he plans to cut the corporation tax in the U.K., said Richard Perry, an analyst at Hantec Markets, in a note. The cut marks an effort to lure business investment as the British economy reels from the Brexit vote.

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