Forex Market Update : Epic Research Singapore

The pound rose to its strongest level in 22 months against the euro on Wednesday, as a drop in U.K. employment to its lowest point since 2008 added to talk that the Bank of England will raise interest rates sooner than previously expected.

The euro fell to 0.7894 pounds from £0.7917 late Tuesday, its lowest level since August, 2012.The euro fell to $1.3525 from $1.3568 late Tuesday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against six currencies, rose to 80.5640 Wednesday from 80.3900 Tuesday.

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