On Thursday the pound rose against the U.S. dollar, ahead of the Bank of England's
monthly rate statement later in the day. Greek turmoils remain in focus.
GBP/USD hit 1.5421 during European morning trade, the session high; Cable subsequently consolidated at 1.5392, rising 0.22%.
Sterling was higher against the euro, with EUR/GBP declining 0.60% to 0.7171.
Later in the day, investors awaited the BoE rates statement which is expected to show the monetary policy unchanged, with the benchmark interest rate at 0.50% and the asset purchase facility at £375 billion.
Meanwhile, markets closely watched peripetias in the Greek drama.
The country has until the end of Thursday
to present new proposals to secure a third bailout from creditors and
prevent a possible exit from the euro bloc.
"Next hours will be crucial," said Greek PM Alexis Tsipras.
The fresh proposals will be examined by eurozone finance ministers on Saturday and a full EU summit on Sunday.
The Greek authorities have meanwhile extended bank closures and the €60 ($66) daily limit on cash machine withdrawals until Monday.
The capital controls were imposed on 28 June, after a deadlock in bailout talks with creditors led a rush of withdrawals.
Greece's deadlines:
- Thursday 9 July: deadline for Greece to submit proposals
- Saturday 11 July: eurozone finance ministers meet
- Sunday 12 July: all 28 members of the European Union meet to decide Greece's fate
- Monday 20 July: €3bn payment due from Greece to the European Central Bank
