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The pound edged higher, achieving its biggest weekly advance against the euro since January, as signs pointed to the UK economic recovery talking hold.
The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.
Click to continue reading “BNY Mellon: the British pound could stabilize near current levels”
Sterling lost three cents (1.9%) to the dollar, as a weak UK quarterly GDP figure abruptly halted the pound’s recent rally.
Dollar selling in the market was stepped up with investors moving into the pound as the MPC minutes proved more positive than expected.
Sterling reached a one-month high against the single currency, rallying strongly as the BoE’s latest policy meeting made no mention of further QE.
Sterling suffered early losses against the euro yesterday after a BoE member hinted that the QE programme should be extended, but the pound recovered to close the day on level footing.
Sterling managed to close last week at a near two-week high of 2.2056 against kiwi, as the UK currency continued to build on support from a BoE official.
Sterling maintained its rally as investors continued to lock in profits ahead of the weekend, with the price closing the day at 1.7839.
Sterling’s rally against the euro persisted on Friday, albeit with slightly less momentum, with the price closing the week at 1.0971, up 0.8% on the day.
The pound achieved a ten-day high against the kiwi yesterday, as bullish comments combined with profit taking to bring the UK currency off multi-month lows.
Sterling recovered some of its recent extensive losses against the aussie dollar yesterday, climbing over two cents, to close up at 1.7668.
Sterling strengthened as much as 2.2% to a ten-day high of 1.0936 against the euro yesterday, its biggest intra-day gain since Jan 30th.
Click to continue reading “Sterling has rallied strongly against the euro, pushing up over 1.09″
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The pound made further ground against the US dollar on Friday, buoyed by positive market sentiment
Sterling extended sharp gains against the dollar, as traders cut short pound positions after many reckoned earlier bets against the currency were overdone.
Click to continue reading “The pound made further ground against the US dollar on Friday, buoyed by positive market sentiment”