News Column

Pound Strengthens Against Majors

May 12, 2014

BRUSSELS (Alliance News) - The pound firmed against other major currencies ahead of European deals on Monday.

The pound that closed last week's deals at 1.6851 against the greenback climbed to 1.6882 at 2:35 am ET.

The pound resumed early rally, reaching near 3-month high of 1.4968 versus the franc.

The pound hit 0.8155 against the euro for the first time since January 2013.

The pound hovered around an early Asian session's high of 172.03 against the yen, compared to Friday's closing quote of 171.63.

If the pound extends gain, it may face resistance around 1.70 against the greenback, 173.00 against the yen, 1.50 against the franc and 0.81 against the euro.

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Source: Alliance News

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