Currency Exchange UK

 

Euro Soars to 2 Week High VS the Pound

Euro Soars to 2 Week High VS the Pound

On Tuesday the euro rose to a two week high against the pound, extending gains it made on Monday.  It rose to 83 pence by mid morning on the London market.

This was the third straight session that the euro had managed to rise, although currency experts said that it would need to exceed 84 pence in order to be in a solid upward movement.

Meanwhile the pound managed to rise against the dollar, the latter being weak on a broad scale against a basket of major currencies.

Currency experts commented that generally investors are becoming less cautious, moving towards slightly riskier assets. 

Overall, the concerns over the global economy that have weighed on investors of late have eased.

In early trade on Tuesday the pound had risen 0.3 per cent to $1.5182, having already hit the session high.