Sterling's Resilience Amid Global Currency Fluctuations

The British pound rose for a third straight session, rebounding from November's low. This recovery comes amid global currency fluctuations, as the dollar’s recent strength wanes. Meanwhile, British economy specifics, including a focus on services over goods, have helped mitigate impacts from international tariff threats.

The British pound continued its upward trajectory on Thursday, marking the third consecutive session of growth. Having been at the mercy of a strong dollar in recent months, the sterling found some stability as the dollar's momentum began to wane.

Currently valued at $1.2721, up from a six-month low of $1.2475 hit in November, the pound has benefited from a less volatile market. Political stress in France and a struggling eurozone economy allowed sterling to hold a steady position against the euro, remaining around a two-year low of 82.78 pence.

Despite changes in wage growth expectations and a slight pickup in the construction sector shown by Bank of England data, sterling remained largely unaffected. Attention also shifted to bitcoin, which surpassed $100,000 for the first time. Britain's economy, leaning heavily on non-tariff-affected services, has largely avoided Trump's trade disputes, sparing the currency from excessive volatility.

(With inputs from agencies.)