Market Commentary and Intraday News

Pound Spikes Up Against Most Majors

259 days ago

(RTTNews) - The pound rallied against most major opponents in early European deals on Friday as investors purchased high-yielding assets after ECB unveiled bond-buying program yesterday to fight European debt crisis.

The pound is now trading at more than a 2-week high of 1.5292 against the franc, compared to yesterday's close of 1.5199.

Against the Japanese yen, the pound hit more than a 3-month high of 126.03 with 127.00 seen as the next resistance level.

The U.K. currency strengthened to 1.5964 against the greenback for the first time since May 16.

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