Business Standard

British Pound Breaks Above 1.2500 Mark To Test Two Week High


The British pound continued to edge higher from a 5-month low against the dollar amid supportive UK equity markets and slackness in US dollar index. The GBPUSD is quoting at $1.2505, up 0.40% on the day and hitting around two week top. UK stocks hit record high on Thursday, on track for its third record closing high of the week. Meanwhile, the US dollar index maintained a subdued stance around 105.50 testing near one week low.Investors are carefully positioning themselves, recognizing the potential influence of upcoming data on the Federal Reserve's monetary policy trajectory.
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First Published: Apr 25 2024 | 6:08 PM IST

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