UK Pound Gains against Euro on Improved Sentiment

UK pound is gaining today as sentiment improves. The executives confidence survey for December is showing improvement, and there are hopes that the United Kingdom will avoid a  triple-dip recession.

Like the United States, the United Kingdom is figuring out how to combat a combination of spending cuts and tax increases. However, there are signs of growth in the British economy, and that is helping the pound right now, particularly against the euro. With the eurozone full of its own struggles and looking at recession, it is little surprise that the pound is once again being eyed as a European safe haven.
According to Lloyds Banking Group Plc, business sentiment is on the rise, along with a separate gauge measuring economic outlook. It looks as though the pound is gaining the upper hand against the euro — even though the Bank of England has increased asset purchases throughout the year. There is just enough hope that the pound is in a better place in the euro that it is making some headway against the 17-nation currency.
At 13:27 GMT GBP/USD is up to 1.6180 from the open at 1.6175. EUR/GBP is down to 0.8155 from the open at 0.8170. GBP/JPY is up to 139.3850 from the open at 138.8150.

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