The pound hit a 5-month high against the euro on Thursday, after U.S. President Barack Obama allayed fears about efforts to curb bank risk-taking by not revealing any concrete plans on the matter in his State of the Union address.
EUR/GBP shed 0.44%, reaching 0.8631 – its lowest rate since Aug. 21 last year.
Sterling also gained against the U.S. dollar and yen. The pound gained 0.56% against the greenback, hitting 1.6258. GBP/USD is likely to find resistance at 1.6310, last Thursday’s high, and support at 1.6134, the daily low.
The pound gained 1.01% against the yen, reaching 146.95.