In light of the dollar’s faltering, the pound is taking advantage of this decline to achieve its first monthly increase in five months, driven by the improvement in risk sentiment.
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The pound: close to the highest level in a month once morest the dollar
The pound rose once morest the faltering US dollar on Monday, and is set to post its first monthly increase in five months as the British currency benefited from improved risk sentiment.
The dollar index has fallen more than 3.5 percent from its peak in mid-May. This helped lift sterling following it reached its lowest level since March 2020 earlier this month.
By 1600 GMT, sterling was up 0.32 percent once morest the greenback at $1.2657, near its one-month high of 1.2666 hit on Friday.
Against the European currency, sterling fell 0.22% to 85.14 pence per euro.
And a few days ago, The British pound has improved It reached 1.248 per dollar, the best number for the pound since the Bank of England approved its monetary policy.
