Pound Strong Versus Dollar on Global Recovery


The U.K. currency extended Friday’s gains versus the U.S. dollar today as global optimism helped speculations that an economic recovery in the U.K. will make its currency more attractive in

foreign-exchange markets.

A business report published today by a private company in the U.K. indicated that confidence regarding economic conditions has improved substantially in an annual comparison, helping the pound to post another day of gains versus the greenback after a Chinese trading report suggested that the global economic recovery expected for 2010 is so far being confirmed, as both exports and imports climbed in China.

GBP/USD traded at 1.6111 as of 23:08 GMT from 1.6069 when markets opened yesterday.

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