Sterling rose on Friday as investors became more confident that the United States government and central bank economic stimulus could alleviate some of the impact of the coronavirus crisis.
The U.S. dollar had previously strengthened on the back of its perceived safe-haven status while sterling - considered a riskier currency more closely associated with equity market performance - moved in the opposite direction.
Sterling was up 0.4% at $1.2253, having touched a near-two-week high of $1.2304. It gained more against the euro, rising by 0.8% to 89.80 pence.
03 Jun 2020 03:05 PM
The euro topped an 11-week high on Wednesday, on track for a seven-day winning streak
03 Jun 2020 02:34 PM
The Indian rupee fell for the first time in four sessions against the U.S. currency, as consistent dollar demand from state-run banks
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session