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Thursday, January 25, 2018

GBP rises on soft Brexit and weak dollar






Forex Alert: GBP rises on soft Brexit and weak dollar



The pound rallied to a fresh post-European Union referendum high as hopes of a soft Brexit and stronger-than-expected labour market data bolstered the currency against a weaker dollar. Sterling gained against most major peers as signs that Britain may stay close to EU rules after leaving the bloc helped the currency extend earlier gains, made on the back of strong jobs figures. The pound has also benefited from broad greenback weakness, with the U.K. currency advancing more than 2 percent over the past three days as market positioning becomes increasingly sterling-bullish.


Source : psl










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