Pound Extends Gains on Renewed Optimism

The pound had the best performance this week in months after speculations suggest that the national central bank will stop its current asset-purchase program used to stimulate the economy to escape from recession.
The pound rose to the highest level in three weeks versus the greenback as stocks in London posted a second straight week of gains, benefiting from a renewed sentiment of improvements regarding the British economy, after the government suggested that the current asset-purchase program may be suspended.
GBP/USD traded at 1.6353 as of 21:35 GMT from a previous rate of 1.6265.