Pound gets (short-lived) shot in the arm
The pound rose above $2 for the first time in a week, and is heading for a second weekly advance, as a rally in stocks boosted appetite for higher-yielding currencies.
The pound is poised for its biggest weekly gain in more than five years, as traders cottoned on to the U.K.'s 5.25 percent interest rate to buy its currency using cheaper loans from elsewhere. Britain's FTSE 100 Index of stocks rose the most in almost two years this week, climbing with equity markets around the world.
The pound is poised for its biggest weekly gain in more than five years, as traders cottoned on to the U.K.'s 5.25 percent interest rate to buy its currency using cheaper loans from elsewhere. Britain's FTSE 100 Index of stocks rose the most in almost two years this week, climbing with equity markets around the world.
