Pound Appreciates After Sajid Javid's Resignation
13 Febrero 2020 - 2:17AM
RTTF2
The pound rallied against its major counterparts in the European
session on Thursday, after the resignation of U.K. finance minister
Sajid Javid amid the cabinet reshuffle.
Javid will be replaced by Rishi Sunak.
Javid's resignation raised hopes for a more expansionary budget
next month.
The pound advanced to near a 4-week high of 1.2764 versus the
franc and an 8-day high of 1.3046 against the dollar, from its
early lows of 1.2651 and 1.2944, respectively.
The U.K. currency climbed to an 8-day high of 143.09 against the
yen and a 2-month high of 0.8326 against the euro, off its previous
lows of 142.15 and 0.8400, respectively.
The next possible resistance for the pound is seen around 1.29
versus the franc, 1.33 against the dollar, 146.00 against the yen
and 0.82 against the euro.
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