The pound on Tuesday moved past the $1.25 level for the first time in more than a month, rising as traders price in a more optimistic global environment.
The pound GBPUSD,
The dollar has been losing ground to several currencies of late, even before the recent riots that have been gripping the U.S. The Australian dollar AUDUSD,
“The U.S. dollar [is] seemingly taking all the pressure at this moment, while U.S. yields remain locked in well-defined ranges,” said Robin Wilkin of Lloyds Bank.
The gains came as the last round of U.K.-European Union negotiations started. The transition period extension deadline is the end of June. Prime Minister Boris Johnson is going to meet Ursula von der Leyen, European Commission President, later this month.
The FTSE 100 UKX,