Sterling reaches seven-day high against the US dollar
The sterling rose against the greenback during the European trade this afternoon as traders are buoyed by optimism that the UK election will result in a government formation sturdy enough to tackle Britain’s debt deficit.
Sterling hit 1.5482 before the start of the US trading session a seven-day high, before steadying at 1.5476 a rise of 0.64 percent on the day. The rise came after opinion polls over the weekend suggested that the Conservatives had shored up their lead after the second televised debate last week.
The pound also rose against the euro and yen, pushing the European currency down 0.99 percent to 0.862 and rising 0.91 percent against the yen, ending the session at 145.82.