Pound Hits 9-Month High on HSBC Earnings

The British currency had one of the best performances this year today as the U.K. financial sector showed evidences of recovery as corporate earnings improved.
HSBC Holdings Plc posted a significant net profit today annulling analysts forecasts that indicated a loss for this year’s first semester, making the pound to climb massively not only versus a weakened U.S. dollar, but also against the European common currency, reaching a one-month high against the latter. The pound also climbed to a nine-month high versus the greenback as the global economic recovery is weighing intensively on the dollar’s outlook.
GBP/USD traded at 1.6946 as of 21:09 GMT from yesterday’s rate of 1.6686.

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