Pound continues to rise against major currencies

Friday, 05. June 2020 14:13

The British pound continued to advance against major currencies like the dollar and euro on Friday despite the protracted stalemate in Brexit negotiations.

Stocks on major European markets rallied amid growing optimism surrounding the reopening of economies across the globe following the coronavirus pandemic. Earlier this week, the European Central Bank said it would expand its asset purchases by another €600 billion to help counter the coronavirus-induced recession.

The pound was up 0.66% against the greenback at 2:05 pm CET, buying 1.26770. At the same time, the British currency rose 0.70% versus the Japanese yen, going for ¥138.409. Compared to the euro, sterling rose 0.60% to €1.111765.

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Breaking the News / JC