10.10.201803:45:00UTC+00Pound Spikes Up Against Majors

The pound drifted higher against its key counterparts in early European deals on Wednesday.

The pound advanced to a 2-day high of 149.09 against the yen and a 2-week high of 1.3185 against the dollar, reversing from its early lows of 148.37 and 1.3134, respectively.

The pound hit a 2-1/2-month high of 1.3071 against the franc, from a low of 1.3021 hit at 5:00 pm ET.

The pound appreciated to 0.8723 against the euro, its strongest since June 15. This may be compared to a low of 0.8750 hit at 9:00 pm ET.

The next possible resistance for the pound is seen around 150.00 against the yen, 1.33 against the dollar, 1.32 against the franc and 0.86 against the euro.