News Column

Pound Spikes Up Against Majors

June 12, 2014

BRUSSELS (Alliance News) - The British currency strengthened against the other major currencies in the early European session on Thursday.

The pound climbed to 1-1/2 year highs of 0.8040 against the euro and 1.5145 against the Swiss franc, from early lows of 0.8063 and 1.5097, respectively.

Moving away from early lows of 1.6784 against the US dollar and 171.17 against the yen, the pound rose to 6-day high of 1.6833 and 2 -day high of 171.80, respectively.

If the pound extends its gain, it is likely to find resistance around 0.79 against the euro, 1.52 against the Swiss franc, 1.69 against the greenback and 172.10 against the yen.

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Source: Alliance News

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