Euro, Sterling Bounce on Energy Policy Hopes, Climb All Over Tumbling Yen
SINGAPORE/LONDON—The euro and sterling were on Tuesday trying to recover from multi-year lows against the dollar hit the day before, as policy makers tried to get a grip on the energy crisis, though the rate sensitive Japanese yen slipped to a new 24 year-low.
The pound and euro both gained over 0.6 percent with the pound reaching as high as $1.19609, and the euro $0.9987 up from its 20-year low hit on Monday.
“That governments are working on price caps, support for the consumer and really trying to get a grip on the energy crisis helps set a floor on those two pairs,” said Samy Chaar, chief economist Lombard Odier…