RTTN:Pound Jumps To Fresh 5-week High Against Euro
After moving broadly sideways in the previous session, the pound resumed yesterday's rally against the euro as the Bank of England decided to retain its interest rate at 0.5 percent and the asset purchase programme at GBP 375 billion.
The pound touched 0.7972 against the euro around 7:05 am ET, its strongest level since October 1. The pound is poised to extend its advance as an ascending channel has broken in the EUR/GBP pair with 0.7925/30 seen as the next likely target level.
