Foreign Currency News Updates

Heavy trading this afternoon has seen Sterling climb against both the Dollar and the Euro. Sterling jumped nearly half a cent against the dollar to around $1.5654 just shy of the day’s high at $1.5660, while the euro cut earlier gains and dropped to a session low of 87.79 pence. The Euro is still battling with the problems stemming from Greece. Despite a number of Euro Zone countries committing to help the Greeks control their fiscal deficit, the lack of specifics has seen the Euro fall over 1% against Sterling and 0.95% against Dollar. Earlier news from Mervyn King saw Sterling fall yesterday, with today’s rally seeing the pound take advantage of events unfolding in the Euro zone. Have a great evening!