Pound Gains against Dollar amid Barack Obama's Re-election

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Source: Bloomberg
© Scanpix/Reuters
The Pound strengthened versus the greenback as investors sold greenbacks after Barack Obama was re-elected. Sterling advanced 0.1% against the U.S. Dollar and traded at $1.6010 after gaining 0.3% on Tuesday. The British currency is forecast to decline to $1.51 by 2014. Following yesterday's gain to five-weeks high, the Pound lost 0.1% against the Euro and traded at 80.19 pence per euro as the Bank of England meets to discuss increase of monetary stimulus.

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