Sterling edged up from its decade-lows on Tuesday as global markets rose for the first time since Britain voted to leave the European Union, but amid political and economic uncertainty few predict a recovery for the pound.

Sterling gained 0.8% against the dollar and was trading at $1.334 after slumping to a 31-year low Monday. It was trading up 0.12% against the euro, in gains analysts attributed to traders covering their short positions after profiting from bets the pound will fall.