Sterling hit a three-week high versus the euro on Thursday and held recent gains versus the dollar, as the British currency was swept up in global market swings that weakened the euro broadly.
The pound has rebounded in recently after crashing amid coronavirus-driven panic in global markets last month to levels not seen in more than a decade versus the euro and since 1985 against the greenback.
It climbed further versus the euro on Thursday as the single currency slid broadly on investor concerns at disagreement between euro zone governments over a rescue package for countries struggling to cope with the coronavirus pandemic.
Sterling was last up 0.9% versus the euro at 87.76 pence per euro, its highest level since March 11. The dollar made a similar 1% gain on the euro. Against the dollar, sterling was flat at $1.2374, after shedding its earlier gains after risk sentiment in markets faltered on dire U.S. jobless data. However, it has retained gains made over the past week.
Source : Reuters