The pound is at its highest level against the dollar
since Britain voted to leave the European Union.
In the first operations on Tuesday, the pound is at $ 1.4372,
surpassing an earlier high post referendum established in
The value of Sterling has increased by more than 6% since
the beginning of the year, and is currently "the favorite of
Forex world. "
Track the value of the pound with Markets Insider.
The pound sterling has risen to its highest level against the
dollar since Britain voted to leave the European Union almost two
The pound has risen around 0.25% against the dollar to trade in
$ 1.4372 in the first European operations on Tuesday, just above
High post-referendum established in January. The pound has now
won against the dollar for seven consecutive business days.
The pound also goes strongly against the euro, reaching
€ 1,182, its highest level since May 2017.
The value of the pound plummeted against the dollar and the euro
after Britain voted to leave the European Union, experiencing the
greater single day's fall of any important currency in history in the
day after the vote. Sterling fell as low as $ 1.20 in the
from 2017, having quoted about $ 1.50 before the
However, since the middle of last year, the pound has been torn
higher, with the exchange of currencies more than 15% above the observed levels
at this time last year.
factors have supported this recent resurgence, ranging from
greater market confidence that the United Kingdom and the EU can attack
The Brexit agreement, the fall of confidence in the agenda of the US president UU
Donald Trump, who has weakened the dollar. Great Britain
economic performance better than expected in the last 18
months has also helped the pound in recent months.
Hussein Sayed, the main FXTM market strategist, said in a
email on Tuesday morning: "With more than 6% of profits from the
beginning of the year, the pound is currently the best performance
main currency While the weakness of the dollar partly explains
the strength of the pound sterling, the greater appetite for risk, the Brexit negotiations,
and the increase in short-term interest rates were the key attributes for
the growing pound. "
Viraj Patel, a currency strategist with the Dutch bank ING,
sterling labeling the "darling of the currency world", in a
analysis published late last week.
The value of the pound could rise even more this week if the data comes out
this week he paints an optimistic picture of the UK economy. The last
on Tuesday will be published a snapshot of the UK labor market, with inflation
the data that follows on Wednesday and the retail sales figures in
Thursday. Solid numbers would probably push the pound further.