LONDON (Reuters) - British finance minister Philip Hammond said on Thursday that the government was “very happy” with the current level of sterling against other currencies.
The pound has appreciated strongly against the U.S. dollar in recent days, rising to its highest levels since the June 2016 vote to leave the European Union above $1.42. However, its gains against the euro have been more muted. [GBP/]
“Over the last few days we’ve seen the pound appreciate quite rapidly but it’s pretty stable against the euro. So we’re very happy with where the currency is at the moment,” Hammond told Bloomberg television during a visit to the World Economic Forum in Davos, Switzerland.
Reporting by Andy Bruce, editing by Estelle Shirbon