Sterling rebounded versus the U.S. dollar and euro amid a tentative rally in global markets on Friday, climbing off more than three-decade lows against the greenback. British government bond yields also rallied on Thursday following the BoE's stimulus measures, and that did help sterling in money markets. Against the euro, sterling was up 2% and was heading for its second day of gains in a row, last trading at 91.23 pence per euro. The pound is acting more like an emerging markets currency," said Kenneth Broux, FX strategist at Societe Generale. Broux said the pound had fallen in Asian trading hours due to the closure of Japan's Nikkei, which resulted in thin liquidity in money markets and increased selling pressure.

Source: Irish Independent March 20, 2020 12:45 UTC