The euro and sterling rise at the calm end of a volatile week

The euro and the British pound rose to a one-week high on Friday, bolstered by moves from the Bank of England to reassure the markets and indications that the European Central Bank is tightening monetary policy as foreign exchange markets regained some calm at the end of a volatile week.

The British currency is headed for its best week against the dollar in two and a half years, with the Bank of England resorting to debt markets to buy bonds for a second day on Thursday. On Monday, the pound hit a record low after markets were turbulent after the British government announced a plan to cut taxes and pay them off with more borrowing.

And the sterling touched $ 1.1222 in Asian transactions, close to compensating all the losses of the previous session. And in its latest trading, it recorded an increase of 0.3 percent, to be traded against $ 1.1155.

The euro rose 0.2 percent against the dollar, to trade at 0.9837 dollars, while the dollar index remained unchanged, but fell 2.7 percent from a high reached on Wednesday.

The Swiss franc fell after the central bank stated that it intervened in the foreign exchange market in the second quarter of the year to support the currency. The franc fell against the dollar and the euro.

The dollar fell 0.2 percent to 144.30 yen.