Pound soars amid wider currency fears
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Sterling rose to its highest level against the dollar since Black Wednesday, the day in September 1992 when the pound was forced out of the Exchange Rate Mechanism, the forerunner of the euro.
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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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Sterling remained on the backfoot against both the dollar and the euro after the publication of the minutes to the latest rate-setting meeting at the Bank of England, as the euro broke above the 1.35 dollar mark for the first time since its launch in 1999.
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The pound surged to another 26-year high against the US dollar on Wednesday, the eve of a widely expected interest rate hike from the Bank of England, dealers said.
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The pound came off earlier highs but remained firm, rising above the 1.98 US dollar mark for the first time in 11 days, supported by positive merger and acquisition talk, as well as the dollar&#39;s weakness.
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The UK pound climbs past the $2.10 level against the US dollar, the highest it has been in 26 years.
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The pound hit a seven-day high against the dollar on Thursday as it continued to benefit from a Bank of England statement which dampened speculation that the central bank will slash interest rates in February.
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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 rose for its second week against the dollar on speculation that the currency reflects too much pessimism about the outlook for the economy.
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Interest rate perceptions send the UK pound to its highest level against the US dollar in 26 years.
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The pound nearly broke the two-dollar mark after hitting fresh 14-year highs in the late afternoon.
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Business & money: Â· Inflation fears as growth is stronger than expected Â· Manufacturers weather burden of strong pound
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The UK pound climbs to its highest level against the US dollar in 26 years on interest rate speculation.
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The pound set a new 26-year high of 2.0365 dollars amid the dollar&#39;s general weakness.
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The British pound hit a 26-year high against the U.S. dollar Tuesday, shooting above $2.04, after higher-than-expected inflation figures raised expectations of another hike in United Kingdom base rates. The dollar was up against other key currencies.Gold prices were mixed in European trading.The euro traded at $1.3783, down from $1.3784 late Monday. Later, in midday trading in New York, the euro fetched $1.3781.Other dollar rates in Europe, compared with late Monday, included 122.34 Japanese yen, up from 121.82; 1.2031 Swiss francs, up from 1.2021; and 1.0436 Canadian dollars, up from 1.0429. Read more
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The pound rose to a month high against the dollar, tracking the dollar's slide, but continued to weaken against the euro after this morning's Nationwide house price survey for September continued to show subdued growth.
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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.