The pound rose above the $1.60 line for the first time in nearly seven months on currency trading online as various speculations the financial crisis is over boosted demand for British currency assets.

Riskbank stated it will strengthen its foreign currency reserve borrowing 100 billion kronor ($13.2 billion) took Sweden´s krona dropping versus all major currencies. Sterling had reached a 23 year-low in January 19th.

 “The pound is having a correction after being hammered hard last year,” said currency strategist Brian Kim from UBS AG, the world’s second-largest currency trader. “There’s some valuation argument.”

Sterling reached over 0.8 percent, reaching its highest level of $1.6047 since November 5th.  Euro on the other hand traded at 94.91 yen. Euro decreased to 123.36 yen, sliding down to $1.3984.

Brazilian´s real also strengthen over 2 per USD for the first time in nearly eight months, as appetite rose for assets from Latin America´s largest economy. Still expert economist assure US crisis is coming to an end.

“The market remains hungry for primary local market securities where yields are significantly higher than average and there is a very strong probability of repayment,” stated Dustin Reid, Director of currency strategy at RBS Securities Inc. in Chicago. “The Brazilian real is benefiting off this.”

Sterling Up

Pound rose about 2.9 percent versus the dollar from its low point on May 20th, currency traders are acting on an expected advance.