# Sterling extends gains - Business & Finance - Business Recorder

> Sterling rose as much as 0.6% against the euro and touched a 2.5-year high of $1.3686 against the dollar. The gain followed the UK financial regulator allowing UK market participants to use EU trading platforms for swaps for up to three months, which avoids disruption to roughly $200 billion of swaps trading.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/49915-sterling-extends-gains-business-and-finance-business-recorder
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A firmer pound lowers the sterling cost of dollar-priced feed and grain imports into the UK. The move is currency-driven, with little direct effect on grain prices.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40046414

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.