Pound Soars to One-month High Against Dollar

Pound Soars to One-month High Against Dollar

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The British Pound Sterling, on Monday, January 23, was one of the big gainers, hitting a five-week high as investors bet Britain’s Supreme Court would rule on Tuesday that the government needs parliamentary approval to trigger formal Brexit talks.

The pound has risen to a one-month high against the dollar as traders failed to be reassured by US President Donald Trump’s inauguration speech.

On Monday he pulled the US out of the major Trans-Pacific Partnership (TPP) trade deal with multiple Asian countries.

It climbed as high as $1.2477 GBP=D4, its strongest level against the dollar since Dec. 19, and pushed its way toward a two-week high against the euro at 86.20 pence per euro. GBPEUR=. The euro was up 0.4 percent at $1.0736, on course for its seventh daily rise.

 

 

 

 

 

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