Pound gains against major currencies

During Tuesday’s European trading session, the British pound made noticeable gains against several key currencies. It climbed to a nearly six-and-a-half-month high of 1.3239 against the U.S. dollar, bouncing back from an early low of 1.3164. The pound also advanced to five-day highs against the euro and the yen, reaching 0.8657 and 189.56 respectively, up from early lows of 0.8607 and 188.56.

In addition, it edged higher against the Swiss franc, moving up from 1.0753 to 1.0812. If this upward trend continues, analysts expect the pound to face resistance near 1.33 against the dollar, 0.82 versus the euro, 190.00 against the yen, and 1.11 in relation to the franc.