Tuesday, July 21, 2009

Pound rises to monthly high of 1.6550

GBPEUR/GBPUSD

The Pound rose to the highest level in a month against the Dollar, rising to a high of $1.6550 last night, while the UK currency also advanced versus the Euro and Japanese Yen, as stocks rallied and survey showed that demand in the housing sector had picked up. The benchmark FTSE 100 Index rallied for a sixth consecutive day, the longest streak of gains since January, as higher commodity prices triggered a rally in raw-material producers.

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