Pound on course for second weekly gain against dollar

Pound on course for second weekly gain against dollar

The pound was on course for a second weekly gain against the dollar on Friday, consolidating above $1.49 as the greenback eased following a recent rally. 

The pound rose 1.8% against the dollar since the beginning of May, boosted by a hawkish Bank of England that began tapering asset purchases, as well as Britain’s vaccination programme that enabled a gradual economic recovery.

Britain delivered one of the fastest vaccination campaigns in the world, giving nearly 70% of its population a first shot and 36% a second. 

The pound gained 0.1% to $1.4066 on the dollar, off a near three-month peak of $1.4167 hit earlier in the week. Against the euro, the pound fell 0.2% to 86.15 pence. 

The British economy grew by a better-than-expected 2.1% month-on-month in March. It is forecasted to sharply recover this year, following a deep COVID-19 slump in 2020. 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?