The greenback edged down against a ⁠basket of currencies as uncertainty over U.S. economic policies and geopolitical moves weighed on sentiment. Sterling was roughly unchanged at $1.3802, after hitting $1.36645 early this week, its highest since September 2021. Labour is trailing in opinion polls to Nigel Farage's right-wing populist Reform UK ahead of bellwether local elections in May. “UK politics may well take its toll on sterling again over the coming months,” said Chris Turner head of forex strategy at ING, mentioning a UK by-election on 26 February. In short, we think sterling is near the top of multi-quarter ⁠ranges,” ING's Turner added.