Euro fatigue helps pound to rise to highest since France vote

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Athens - The euro’s failure to rise above $1.09 provided momentum for the pound to reach the highest levels versus the common currency since the first round of the French presidential elections.

The euro has stayed below the $1.10 level broken on Monday given a lack of fresh catalysts, creating upside fatigue for euro-bulls who are preferring to fade dips rather than chase price action higher, according to foreign-exchange traders in Europe.

As the pound found fresh buying interest across the board ahead of the Bank of England’s Super Thursday, stops below 0.8400 versus the euro were triggered, said the traders, who asked not to be identified as they weren’t authorized to speak publicly.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
13.79
-0.3%
Rand - Pound
19.45
-0.3%
Rand - Euro
16.71
-0.4%
Rand - Aus dollar
10.64
-0.5%
Rand - Yen
0.13
-0.2%
Gold
1,852.50
-1.3%
Silver
27.61
-1.1%
Palladium
2,757.50
-0.8%
Platinum
1,150.50
-0.0%
Brent Crude
72.69
+0.2%
Top 40
61,740
+0.5%
All Share
68,005
+0.4%
Resource 10
65,601
-0.3%
Industrial 25
88,652
+1.2%
Financial 15
13,627
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Have you noticed a difference in the voices of women compared to men in virtual meetings?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, there is a difference.
25% - 32 votes
No, I haven't noticed it.
65% - 83 votes
A bad internet connection worsens it.
10% - 13 votes
Vote