Pound hits 26-yr peak at $2.0317
Afp, London
The pound leapt to yet another 26-year pinnacle against the dollar on Wednesday amid US housing market concerns and the prospect of higher interest rates in Britain, dealers said. The pound jumped to 2.0317 dollars in early European trade -- the highest level since 1981. It later stood at 2.0310 dollars. Meanwhile, the euro had struck a fresh record high of 1.3787 dollars in earlier deals. Currency investors are focused on interest rate differentials, boosting currencies from areas with better prospects for higher rates, such as the eurozone and Britain, analysts said.
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