The pound edged sharply higher against its major rivals around 5:00 am ET Thursday as the BoE governor designate Mark Joseph Carney's testimony before the Treasury Committee begins.
The pound rose above the 148.0 level against the yen by 5:10 am ET, its strongest level since January 2010. On the upside, the pair is approaching the 23.6 percent retracement target at 148.50.
The sterling moved closer to the 0.86 level against the euro and broke past the 1.43 level against the Swiss franc after a gap of a session. If the UK currency extends advance, likely resistance levels are seen at 1.4370 against the Swiss franc and 0.8580 against the euro.
The British unit climbed to a 2-day high of 1.5771 against the US dollar, a whopping 100-pip gains in a short period. On the upside, the cable may find resistance around the 1.58 level.
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