8th February 2012
Sterling has improved in forex trading this afternoon (February 8th) to reach a 12-week high against the US dollar.
Reuters reports sterling touched $1.5929 following a rise of 0.1 per cent today, with the currency being bolstered by hopes that the Greek government will avoid a disorderly debt default when ministers sanction a new bailout deal for the country.
It mirrors a strengthening of the euro on the back of these rumours.
"The focus is on Greece at the moment and the euro is firming on the expectations of a Greek deal. Sterling may come off a little against the euro once the deal comes through," Richard Driver, analyst at Caxton FX, told the news provider.
Last month, the euro benefited from an announcement by the US Federal Reserve that the body aims to maintain low levels of interest in the country for at least the next two years, resulting in the single currency climbing to a five-week high against the dollar.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.