The pound climbed sharply against the dollar and the yen as an employment report with optimistic figures may have indicated that the worst of the recession is already behind, spurring demand for the British currency.
The pound, which lost significantly against the dollar and the yen last week, virtually pared its losses as an employment report in Britain brought optimism back among domestic investors. Today Intel Corp. forecast sales beyond analysts’ predictions, adding attractiveness for the pound sterling profile, which may proceed its rally if the current scenario remains unchanged.
GBP/USD traded at 1.6422 as of 20:16 GMT from an intraday price of 1.6275.
If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.
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