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Sterling Rises to Nearly Two Month High

Video Credit: Wochit - Duration: 00:43s - Published < > Embed
Sterling Rises to Nearly Two Month High

Sterling Rises to Nearly Two Month High

According to Reuters, the sterling is nearing a two-month high against the dollar.

Despite drama in London over Brexit, the UK's currency is trading up seven-tenths of a percent, rising to $1.29.

The sterling began its rise in the wake of a vote of no confidence against the government of Prime Minister Theresa May.

But the prime minister's government survived the motion by a margin of 19 votes, which promoted the sterling to rally.

Charlie Ripley, an investment strategist with Allianz Investment Management, said that the confidence vote was a positive step for the prime minister, but risk assets have been performing well lately, despite the debate over Brexit.

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