Pound Rises Against Majors
The British pound strengthened against the other major currencies in the pre-European session on Monday.
The pound rose to a 1-week high of 160.71 against the yen, from an early low of 159.75.
Against the Swiss franc, the pound advanced to 1.3827 from an early low of 1.3784. This may be compared to an early 6-day high of 1.3831.
Against the euro and the U.S. dollar, the pound edged up to 0.7891 and 1.4150 from early lows of 0.7902 and 1.4120, respectively.
If the pound extends its uptrend, it is likely to find resistance around 163.00 against the yen, 1.40 against the franc, 0.77 against the euro and 1.44 against the greenback.
The material has been provided by InstaForex Company - www.instaforex.com
