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The British Pound Reached a Peak for 11 Weeks

 

The British pound reached a peak of 11 weeks on Friday after The Sun reported that the Democratic Unionist Party of Northern Ireland decided to support the Brexit plan proposed by Theresa May next week.

The pound rose 0.3 percent against the dollar to $1.3109 after rising to $1.3114, the maximum since November 8.

The pound added 0.2 percent to 0.8634 to the euro, and 0.2 percent to 1.8460 to the Australian dollar.

The euro rose by 0.1 percent to $1.1319.

The European Central Bank left monetary policy unchanged on Thursday, but the Head of the regulator, Mario Draghi, said that the risks to the growth of the eurozone economy shifted to a downward direction indicating that normalization of the policy could take even longer than expected.

The dollar index to the basket of major currencies lost 0.2 percent to 96.43.

The dollar rose 0.2 percent to 109.82 to the yen.

The Australian and New Zealand dollars added 0.1 and 0.2 percent to the US dollar against the background of a slight recovery in risk appetite.

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InvestorGreg Editorial Team

InvestorGreg Editorial Team

The InvestorGreg Editorial Team is a group of financial writers and analysts who cover the worlds of finance and investment. Read more