Sterling strengthens versus USD

Sterling was stronger on Friday as investors assumed that the Bank of England will not cut interest rates for the rest of the year and ended the week nearly 1.5 percent higher versus the greenback.

In early afternoon trade in New York, the US dollar was trading at $2.0857 in relation to the pound, while the yen traded at ¥239.3030 to the pound and the euro sat at €1.4382 to the pound.

Meanwhile, he US dollar slipped to yet another record low in relation to the euro in morning trade in New York on Friday as it traded at $1.4489 to the shared currency just before 11 a.m. EDT.

Story link: Sterling strengthens versus USD