* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
By Tom Wilson
LONDON, April 8 (Reuters) - Sterling on Thursday stabilised
against the dollar and euro, staunching some of its losses after
a bruising bout of profit-taking a day earlier.
The pound slumped 0.6% to a one-week low against the dollar
and around 1% against the euro on Wednesday as investors took
cash off the table after a strong first quarter for the British
currency.
But by 0847 GMT on Thursday, sterling was flat against the
dollar at $1.3725, according to Yahoo! Finance, having touched
its lowest this month a day earlier.
Against the euro, it traded down slightly at 86.42 pence per
euro, according to Yahoo! Finance, after its worst day against
the single currency in five weeks.
ING analysts wrote that sterling's pullback was
"exaggerated," adding that they "remain constructive on the
currency", citing Britain's relatively fast coronavirus vaccine
programme.
Expectations of an economic rebound in Britain, spurred by
rapid COVID-19 vaccinations, helped sterling to record its best
quarter since 2015 versus the euro.
Diminishing expectations that the Bank of England will push
interest rates to negative territory have also helped.
Britain has surged ahead of the rest of Europe in the race
to inoculate its population, with almost half of its citizens
receiving a first dose. But supply issues from its main
Oxford-AstraZeneca vaccine have slowed progress in
recent days.
(Reporting by Tom Wilson
Editing by Mark Heinrich)