News Column

Pound Recovers Against Majors

August 12, 2014

BRUSSELS (Alliance News) - The pound recovered from early lows against the other major currencies in the early European session on Tuesday.

The pound rose to a 4-day high of 0.7966 against the euro, from an early low of 0.7979.

The pound bounced to 1.6775 against the US dollar, from an early 2-month low of 1.6756. At yesterday's close, the pound was trading at 1.6784 against the greenback.

The pound advanced to 1.5230 against the Swiss franc and 171.58 against the yen, from early lows of 1.5208 and 171.37, respectively. This may be compared to early 4-days high of 1.5232 against the franc and 171.69 against the yen. The pound closed yesterday's deals at 1.5216 against the franc and 171.50 against the yen.

If the pound extends its uptrend, it is likely to find resistance around 0.791 against the euro, 1.68 against the greenback, 1.53 against the franc and 172.70 against the yen.

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Source: Alliance News

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