Sterling climbs on currency markets

Those investing their personal wealth in the currency markets will have seen the value of sterling rise against the dollar during trading this morning (March 30th).

According to Reuters, the pound hit a high of $1.5060 early in the session, before retreating slightly to be priced at $1.5038 at 08:27 GMT, an increase of 0.3 per cent.

Despite this, the rise has been limited by continuing worries regarding political stability in the UK.

Latest opinion polls show there is still a possibility the upcoming general election will create a hung parliament where no party has a clear majority and Michael Hewson of CMC Markets noted this is ’the overriding concern for investors right now’.

’This will continue to weigh,’ he was quoted by the news source as saying.

The first televised debate of the election campaign, which took place last night, saw none of the three potential finance ministers reveal any new details regarding what they intend to do to tackle the UK’s budget deficit.

Against the euro - which has rallied in recent days as worries over the situation in Greece have eased - sterling was largely unchanged.ADNFCR-2318-ID-19696474-ADNFCR