The UK's sterling showed strength against its major counterparts in early Asian trading on Tuesday. The pound advanced to a 6-day high of 0.9243 against the euro and a 4-day high of 1.6426 versus the Swiss franc by 8:10 pm ET, compared to Monday's New York session closing values of 0.9255 and 1.639, respectively.
The pound also advanced to 1.4279 against the greenback and 139.49 versus the yen during the session. This may be compared to yesterday's New York session closing values of 1.4269 and 138.80, respectively.
The British sterling is currently quoted at 1.427 against the buck, 139.47 versus the yen, 1.6417 against the Swiss franc and 0.9246 versus the euro.
In economic news, consumer confidence was higher for the second consecutive month in Great Britain, data consolidator GfK said today, suggesting that measures to end the recession are starting to take hold.
The consumer confidence index came in at -30 versus analyst expectations for a score of -37 following the -35 reading in February. British consumers became more optimistic about the general economic outlook over the next 12 months, also upgrading their assessment of the state of the economy over the past 12 months.
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