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Forex News: Pound Rises Against Majors

Pound Rises Against Majors

05/22/2024 - 03:04:00 (RTTNews)

(RTTNews) - The British pound strengthened against other major currencies in the pre-European session on Wednesday.

The pound rose to nearly a 1-1/2-month high of 0.8512 against the euro and nearly a 2-year high of 1.1645 against the Swiss franc, from yesterday's closing quotes of 0.8543 and 1.1582, respectively.

Against the U.S. dollar and the yen, the pound advanced to a 2-month high of 1.2763 and nearly a 4-week high of 199.55 from Tuesday's closing quotes of 1.2708 and 198.54, respectively.

If the pound extends its uptrend, it is likely to find resistance around 0.83 against the euro, 1.17 against the franc, 1.29 against the greenback and 201.00 against the yen.

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