Home Analysis British pound appreciated further on energy markets financing scheme

British pound appreciated further on energy markets financing scheme

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The British pound is trading more than 1% higher against the US dollar on Monday morning in Asia. Market participants welcome the energy markets financing scheme published by the Bank of England. According to analysts, this financing scheme will provide the much-needed catalyst to the terrible situation in the UK. The current energy crisis in the UK has invalidated the ongoing approach of importing cheap energy rather than investing in the infrastructure to create that energy in the homeland. The British pound has received some support as bulls are trying to establish a foot near the 1.3100 level.

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