The British Pound is rising to its highest level in 6 weeks

The British pound rose today to its highest level in more than six weeks against the US dollar as the dollar's decline continues, and the pound sterling crossed the $ 1.40 level for the first time in nearly a month on Monday, when it rose 1%. The sterling extended its gains, benefiting from the weakening of the US dollar, to touch its highest since March 4 at $ 1.4009, before retreating 0.3% against the dollar and 0.4% against the euro’s rise at 86.40 pence.

Futures data from the CFTC showed that the net long position of speculators in the pound against the dollar rebounded in the week ending April 13th after falling to its lowest level since February the previous week.