The English pound edged up on Friday against the shared currency of the European Union on Friday, continuing the monetary unit's strong trend since early last year, according to Bloomberg.
Confidence is growing about the prospects of the Bank of England boosting borrowing costs, which Governor Mark Carney said only would happen when it became clear that the economy was growing stronger.
"Euro-sterling is trading at some pretty important levels," head of currency strategy Jeremy Stretch with Canadian Imperial Bank of Commerce in London told the news source on Friday. "It seems inevitable we are going to be heading down to the 80.20/30 area in the next couple of weeks because of the likelihood of ECB easing as well as U.K. data resilience. We shouldn't be too surprised to see downside risks continuing to play out in euro-sterling."
The pound rose about 0.1 percent against the 18-nation monetary unit as the trade week came to a close.
The Telegraph reports Carney warned insurance company executives that they run the risk of collapse, akin to bankers. He also said they will have to answer for their actions.
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