Pound Higher On Recovery Hopes
BRUSSELS (dpa-AFX) - The pound moved up against its most major counterparts in the European session on Thursday, as a Democratic sweep in U.S. Senate runoff elections in Georgia will enable the Biden administration a greater scope of achieving its agenda.
Democratic candidates Raphael Warnock and Jon Ossoff defeated Republican challengers Kelly Loeffler and David Perdue, respectively in the state of Georgia.
With the victory, the Democrats will have 50 seats in the Senate, the upper house of Congress. And a tie-breaking vote from Vice President-elect Harris would give them control of the Senate.
This gives President-elect Joe Biden a greater scope of pursuing fiscal stimulus being sworn in on January 20.
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