Pound hits fresh 26-year high against dollar
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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 was solid against the euro after British retail sales data showed spending on the high street to be more resilient than expected.
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The pound continued to climb, boosted by data out suggesting that the Bank of England&#39;s (BoE) 125 basis point rise in interest rates in the space of a year is still yet to bite.
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The pound rose sharply against the dollar despite a downbeat survey on UK manufacturing and the outlook for economic growth by the Confederation of British Industry (CBI).
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The euro hit a new record on Friday against the unravelling US dollar, surging to US$1.3549, with some analysts seeing US$1.40 as a potential trigger level for European Central Bank intervention.
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The pound trades at a 26-year high against the US dollar as investors look ahead to an expected UK rate rise.
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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 dollar falls to a record low against the euro and a fresh 26-year slump against the pound.
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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 euro charged to a record high yesterday, breaching the $1.35 mark as markets seized on a plunge in sales of new homes in America as an excuse to renew their assault on the US currency.
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The pound leapt to yet another 26-year pinnacle against the dollar amid US housing market concerns and the prospect of higher interest rates in Britain, dealers said Wednesday.
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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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The dollar slid to a record low against  the euro on worries about U.S. subprime mortgages and hit a  26-year trough versus sterling on Wednesday after British data  bolstered expectations for higher interest rates in Britain.
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Interest rate speculation drives the UK pound to its highest level against the US dollar in 26 years.
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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 stronger against to the dollar though US home sales figures brought some cheer amid continuing worries about a slowdown in the world's biggest economy. The pound jumped to a near two-year high of 1.9490 from 1.9444 before the figures were released, and also rose to a new eight-year high of 226.46 yen.
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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.