02 August 2010

Sterling Rises to 11 Month Highs

The pound is on an immensely strong day on the foreign exchange market; it has reached an 11-month high against a basket of currencies while versus the US dollar it has reached a 6-month high.

After a round of good earnings data - with big bank HSBC posting better-than-expected profits for the first half - the pound is certainly more attractive for international investors today.

The dollar, meanwhile, is on a broadly weaker streak.

No comments: