British Pound Gains Modestly as Energy Fears Ease
Sterling's Friday improvement against the dollar came while UK rate and gilt-market questions persisted.
Reuters reported October 9 that sterling edged higher to about $1.324 as the US dollar weakened alongside easing oil prices. The pound also showed relative strength against the euro amid continuing European fiscal concerns.
GBP/USD is a relative price: the pound can rise if the dollar weakens even without an improvement in British economic fundamentals. Gilt yields and Bank of England expectations can pull the pair in different directions.
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