Sterling Moves Higher in Forex Trading as Risk Trade Gains Momentum

U.K. pound in currency trading

The sterling is moving higher in forex trading on the currency market as the risk trade gains momentum today. The U.K. pound has been struggling in currency trading lately, and this is probably a positive thing for those who like the currency.

Even earlier today, the sterling was punished in forex trading. However, things are changing as the risk trade moves to the forefront. After dropping to below .58, the sterling is rising again, heading toward .59.

Part of the help for the U.K. pound in currency trading on the FX market is coming from the fact that commodities are on the rise. As a risk trade currency, the sterling does well when equities and commodities are rising. With gold prices setting new records, and oil prices approaching a barrel, it is little surprise that the sterling is trying to move out of its funk.