PhilBen
13th November 2009, 08:25
The Pound hit the weeks low against the dollar yesterday, as sterling weakness continued after the comments from the BOE governor Mervyn King said further Quantitative Easing measures are not being ruled out, he also highlighted the benefits of a weak currency. However Sterling rose against the euro late afternoon, retracing back from an earlier two-week low, with traders selling of Euros versus sterling by corporate accounts.
The Dollar gained on Thursday against the Pound and the Euro after a U.S. report showed initial U.S. weekly jobless claims were lower than initially expected. The report had a much greater impact on trading in recent months. The U.S. Labour Department announced that jobless benefit claims fell to 502,000 in the latest week from a revised 514,000 in the prior week.
The Euro all eyes will be on Germany and France this morning data out from both countries could have a big impact on both the Pound and USD status. The Pound has opened this morning with a surge against the Euro after GDP data for Germany was slightly worse than expected.
Interbank rates 9.00am UK
GBP-EURO 1.190
GBP-USD 1.667
GBP-AUD 1.795
Major Data out today
DE GDP
FR CPI
FR HICP
EURO HICP
US Univ of Mich Sent. (P)
The Dollar gained on Thursday against the Pound and the Euro after a U.S. report showed initial U.S. weekly jobless claims were lower than initially expected. The report had a much greater impact on trading in recent months. The U.S. Labour Department announced that jobless benefit claims fell to 502,000 in the latest week from a revised 514,000 in the prior week.
The Euro all eyes will be on Germany and France this morning data out from both countries could have a big impact on both the Pound and USD status. The Pound has opened this morning with a surge against the Euro after GDP data for Germany was slightly worse than expected.
Interbank rates 9.00am UK
GBP-EURO 1.190
GBP-USD 1.667
GBP-AUD 1.795
Major Data out today
DE GDP
FR CPI
FR HICP
EURO HICP
US Univ of Mich Sent. (P)