Sterling hits year-high against the euro
The pound has risen against the US dollar and has reached its peak for the year against the euro.
The pound is having a great day and has climbed to its highest point against the euro all year and has risen further against the dollar. The feat of the sterling can be associated with the facts that stocks gained and a government report showed that manufacturing in the UK has expanded for a second straight month.
The key factor for the sterling's success lies within future improvement of the investment environment. Along with the investment environment making or breaking the sterling is the close connection it maintains with the equity markets.
The pound's highest exchange rate reached 85.68 pence per euro, and one pound is now worth USD1.6385. The pound has also strengthened against the yen as equities snapped two days of losses.
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