Sterling has risen to its highest value again the euro for almost four weeks, the latest Forex trading market figures show.
With the UK currency continuing to benefit from stronger equities, as well as the knock-on effects of positive economic data, the value of the euro dropped to 82.86 pence at the start of the week.
This represents the euro’s weakest position against the pound on the Forex trading markets since the start of June, with this trend partly down to the fact that recent solid earnings have helped boost the value of Europe’s ‘riskier currencies’, Reuters has reported.
At the same time, the sterling was also seen to hit a five-and-a-half month high against the US dollar at the end of last week’s trading.
By the end of the week, London-time, the pound had reached a value of $1.5697, representing its strongest position since mid-February, with the upturn in fortunes being partly attributed to the news that an offer to invest £5.8 billion in the UK’s energy infrastructure could be on the table.
