Pound Continues to Gain on Euro

The pound climbed to a 19-month high against the euro yesterday as nervous investor’s anxiously eye a deadline later this week requiring many European banks to repay loans taken out a year ago. The pound rose almost half a cent to 1.2327 euros, its highest level since the immediate aftermath of the financial crisis in November 2008.

“Markets are tense going into the end of the long-term refinancing programme, along with [Wednesday’s] three-month auction,” said John Hydeskov, senior currency analyst at Danske.

Source: BBC News

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