The English pound on Thursday rose against the world's reserve currency as Chancellor of the Exchequer George Osborne readied to defend the end-of-year budget he presented earlier this month, according to Bloomberg.
The pound rose against 14 of 16 major rivals. Conjecture mounted as to what the Bank of England will do about interest rates while analysts and investors monitored indications about policy decisions of the European Central Bank and the U.S. Federal Reserve.
"This morning, we've seen the pound push a bit higher," senior currency strategist Jane Foley with Rabobank International in London told Bloomberg on Thursday. "Yesterday it got back to the $1.6340 level and there doesn't seem to be any appetite to see it below that."
The English pound rose roughly 0.2 percent against the greenback after losing 0.4 percent of its value against its cross-Pacific rival on Wednesday.
The pound's losses on Wednesday against the common currency of the European Union pulled down the monetary unit to its lowest value in roughly three weeks against the euro, according to The Independent.
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