The UK pound rallied to above US$1.36 on Thursday, building on a 2-1/2 year high against a struggling dollar as reports of progress in Brexit trade talks boosted appetite for the British currency, while the Bank of England kept its stimulus program unchanged, Reuters reports. With just two weeks left to the end of a Brexit transition period on December 31, sterling has gained more than 2 percent against the dollar this month, helped by hopes of a Brexit trade deal. The pound extended gains on Thursday to US$1.3598, up 0.6 percent against the dollar, after it jumped to its highest level since May 2018 on Wednesday. Against the euro, it gained 0.3 percent to 90.04 pence, after it hit a one-week high of 89.83 in earlier trading.

Source: The Standard December 17, 2020 14:15 UTC