The pound has bounced back and euro rosed against dollar

[gnutrade.satya]

The pound has bounced back as investors have welcomed the coalition government's fiscal plans.The euro rose against the dollar as worries about debt-strapped Ireland have eased, although lingering worries about the risk of contagion to other euro zone economies could curb further gains.In the currency options market, euro sentiment stabilized for now.Marc Chandler, global head of currency strategy, at Brown Brothers Harriman in New York said: "Overall, with the crisis in Ireland likely coming to a close, for now...(this) means dollar may soften a bit versus the euro as investors consolidate their short positions."