UK pound climbs to more than a month's high at US$1.38

Finance | 29 Jul 2021 4:50 pm

The UK pound hit its highest in over a month against the dollar on Thursday, extending gains driven by a fall in coronavirus infections in Britain and as a dovish U.S. Federal Reserve weighed on the greenback, Reuters reports.

The British currency has gained for five consecutive sessions, and on Thursday was 1.4 percent higher against the dollar on the week. By 0754 GMT, sterling was 0.3 percent higher on the day at US$1.3843, having hit its highest since June 24 against the dollar.

The dollar also fell after Fed Chair Jerome Powell's remark that rate increases were "a ways away." 

Against a broadly stronger euro, the pound gained by 0.1 percent at 85.10 pence per euro.


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