Pound rises above 1.58 level against dollar
In early European deals on Monday, the pound rose above the 1.58 level against the dollar for the first time since February 17 as UK stocks surged up today on HSBC results.
STERLING hit the highest level against the euro for nearly 10 months yesterday, breaking through €1.19/£1 as a lack of confidence in a solution to the debt crisis and the risk of downgrades gathered pace.