Market News
Pound Climbs to 2025 High After Worst Start to Year Among Peers - BLOOMBERG
- Traders are covering short bets built since start of the year
- UK’s trade surplus with US may mean it avoids levies
The pound climbed to its highest level this year against the dollar as traders covered short positions built up during a selloff in January.
The UK currency rose 0.2% to 1.2596, a level last seen on Dec. 30. It has gained more than 4% in the past month, recovering from a tumble to $1.21 in January. It was little changed against the euro.
