Greenspan comments spark surge in pound against the dollar
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The dollar suffered a renewed bout of selling after the US Federal Reserve's chairman Alan Greenspan hinted that a further depreciation in the US currency may be necessary to bring the US current account deficit down.
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The pound hit a weekly peak of 1.4756 against the euro on Friday as investors dismissed poor manufacturing figures.
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The pound was rangebound against the euro and dollar on Wednesday on the eve of an interest rate decisions by the Bank of England (BoE).
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The pound rose againt a weaker dollar and against the yen on Tuesday, as the markets tried to work out whether a US interest rate cut was on the cards.
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The euro advanced against most currencies on Thursday after investors interpreted remarks from the head of the European Central Bank as signaling a rise in benchmark interest rates in March.
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The pound hit a 12-year high against the US dollar as negative sentiment surrounded the embattled US currency.
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The yen advanced on Thursday after Alan Greenspan, former chairman of the Federal  Reserve,  said he feared a &quot;dramatic contraction&quot; in Chinese stocks.
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The dollar advanced across the board  on Wednesday, receiving a boost from Federal Reserve Chairman  Alan Greenspan, who signaled further increases in U.S. interest  rates.
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Sterling zig-zagged against its main rivals before staging a late rally to recover some of its early losses against the US dollar.
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The pound climbed back above 2.0 dollars in early trading on Monday, as dealers priced in a likely interest rate hike by the Bank of England (BoE) next month.
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Sterling continued to outperform the dollar after official figures showed British high-street spending was unexpectedly robust in August, helping to build the case for another rate hike by the Bank of England.
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The pound strengthened against the dollar again on Monday afternoon, nearing the 26-year high of just over 2.06 US dollar that it struck earlier in the day.
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The dollar extended recent gains to a  new two-month high against the euro on Thursday, underpinned by  the view that expected increases in U.S. interest rates will  bolster the greenback's yield appeal.
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Traders buy dollars sold off in recent sessions; await Greenspan speech, data due later in the week. NEW YORK (CNN/Money) - The dollar rose higher from recent lows against the euro and the yen Monday, while
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The pound gained, reaching a nine-day high against the euro and the dollar after earlier relatively hawkish comments from Bank of England Monetary Policy Committee member John Gieve.
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The pound made gains against most major currencies on Friday, as the dollar stayed steady above 15-year lows against a basket of currencies.
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The pound has risen, hitting new 10-month highs against the euro, on continued expectations that the Bank of England will raise interest rates further in November.