Finding Value as Sterling Holds Up Against the Euro

The pound's two-week rally as the dollar weakens shows the British currency is in favor again

The pound is holding its own against the seemingly unstoppable euro, suggesting that investors are finding value in the U.K. currency. Sterling concluded a second weekly advance against the euro last week even as the common currency strengthened to the highest in more than two years against the dollar. The moves show that negative trading psychology on the pound is breaking, said Viraj Patel, a currency strategist at ING Bank NV.

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