UK Pound Finds Support in Currency Trading

Pound higher against the US dollar

Like other high beta currencies, the pound is finding support against the US dollar today as risk appetite makes an appearance on the FX market.

The pound is gaining as good news in Europe bolsters equities, as well as riskier currencies. There is some hope that the eurozone will be able to get through this, as French costs come down, a Greek appears almost worked out, and buyers are willing to take Spanish bonds.

Pound often moves up when equities do well, and right now equities are getting a boost from good news in the US, as well as in Europe. For now, it looks as though high beta currencies, like the pound and euro, are going to find good support. 

See Also

• Pound in Currency Trading
  FX market news and information