Sterling jumps above 1.26 against dollar

The British pound continued today to rise against the US dollar, to breach the $1.26 barrier.

Investors are optimistic about resumption of the post-Brexit talks between Landon and Brussels about the future relations between the two sides.

News agencies have talked about the possibility reaching an agreement between the UK and EU on future relations after showing signs on flexibility and intercession to achieve progress.

Otherwise, the British construction PMI reached 28.9 points in May, lower than forecasts of 29.5 points.

The UK is engaged in the fierce fight against the coronavirus outbreak, while also gradually reopening the economy.

Similarly, many European countries are also gradually reopening their economies and going back to normal.

GBP/USD rose 0.2% to 1.26 as of 19:41 GMT, after the pair hit a high of 1.2633 and a low of 1.25.