Pound hits 14-year dollar high
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Sterling hits a 14-year high against the dollar amid speculation that UK interest rates will rise in the New Year.
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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 euro hit a new all-time high against the U.S. dollar today, climbing on oil price worries and concern over the U.S. budget deficit.
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The pound touches its lowest level against the euro in 14 months amid fears over the strength of the UK economy.
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The pound on Wednesday reached a fresh 26-year high against the dollar, which also fell against the euro on the eve of European interest rate decisions.
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The pound jumped back up towards the 2.02 dollar level, adding to its strength from earlier in the day.
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The pound hit a one-month high against the dollar as next week&#39;s predicted cut in interest rates pulled down the US currency.
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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 shoots above $2 - close to 26-year highs - in early trade in Europe as investors price in an interest rate rise in July.
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The pound has finished up against the dollar, the euro and the Swiss franc but closed down against the yen.
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The pound has risen to a six-week high against the dollar following stronger-than-expected economic growth data.
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Geopolitical fears following news of the killing of Pakistani opposition leader Benazir Bhutto hit the pound as well as the dollar, with the euro hitting a new record high of 0.7338 against the UK currency.
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The pound came under renewed selling pressure to move under 1.79 US dollars briefly.
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The pound draws closer to the $2 barrier, hitting a new 14-year high of $1.9748 before retreating slightly.
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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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Interest rate perceptions send the UK pound to its highest level against the US dollar in 26 years.
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The pound was solid against all currencies, and up against the US dollar, after the Bank of England effectively retained its tightening bias and the Confederation of British Industry reported that factory orders are running at a 12-year high.