The pound was about 0.3 percent from the highest level in more than five years against the dollar as data showed speculators increased their bets on its appreciation to the most since 2007.
The Korean won and the Turkish lira may be among the strongest emerging-market currencies against the dollar in 2011, Bank of Tokyo-Mitsubishi UFJ Ltd. currency strategist Lee Hardman said in a report today.
The euro fell for a second day versus the dollar as a report showed investor confidence declined and as record-low foreign-exchange volatility boosted demand for higher-yielding assets.
The yen weakened for a third day against the dollar as signs that tensions in Ukraine and Russia are easing and a rally in stocks damped demand for safer assets.
"Expectations are we'll see rebounding growth, but the risks are somewhat tilted to the downside."
- Lee Hardman on Jul 28, 2014
Bank of Tokyo’s Lee Hardman Sees Yen Weakening