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Alexander
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Pound Climbs Against Dollar - 2009/04/21 20:21 Good day, fellow traders! Good news for Sterling sellers, the pound rebounded from the lowest level in almost three weeks against the dollar after Tesco Plc and Burberry Group Plc bolstered speculation the worst of the economic slump may be easing.

The British currency also rose versus the yen and Swiss franc. Tesco, Europe’s second-biggest retailer, said sales at U.K. stores open at least a year increased 3.4 percent in the six weeks since the end of February, quicker than the fourth quarter’s 2.7 percent gain. Burberry, Britain’s largest publicly traded luxury-goods company, reported revenue that beat analysts’ estimates.

The pound advanced to $1.4574 by 10:56 a.m. in London, from $1.4539 yesterday. It earlier declined to $1.4469, the lowest level since April 2. The pound was little changed at 88.91 pence per euro. Sterling bought 143.11 yen, from 142.32.

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Pound Climbs Against Dollar

Alexander

2009/04/21 20:21