Pound-Euro Rate Powers to 5-Week High, Resistance at 1.16 Looms
Pound sterling rallied against the euro in the wake of the Bank of England decision, but technicals could prove a headwind from here.
Pound sterling rallied against the euro in the wake of the Bank of England decision, but technicals could prove a headwind from here.
Seasonality and politics are against the pound.
More →Official daily exchange rates from 1971 to today: Bank of England, ECB and interbank sources.
Bank of England trade-weighted sterling effective exchange rate index (Jan 2005 = 100)
A reading above 100 means the currency is expensive relative to its long-run historical average. Below 100 means it is undervalued.
Pound sterling holds gains against the dollar and euro after the Bank of England maintains interest rates and signals it remains guarded against rising inf...
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