Pound Spikes Up Against Majors

Pound Spikes Up Against Majors

The pound strengthened against its key counterparts in the European session on Monday.

Reversing from an early low of 1.3168 against the dollar, the pound edged up to 1.3222.

The pound advanced to near a 5-week high of 143.55 against the yen, near 4-week highs of 1.2564 versus the Swiss franc and 0.9081 versus the euro, off its early lows of 142.52, 1.2477 and 0.9122, respectively.

The next possible resistance for the pound is seen around 1.34 versus the greenback, 145.00 against the yen, 1.27 against the franc and 0.89 against the euro.