- In early trading yesterday the pound rose against the single currency as gains on London equities buoyed investor confidence in the UK’s economy. The FTSE 100 was up 1.6% in early trade.
- A greater-than-expected fall in French industrial output in April did little to ease the euro’s plight mid-morning, as it revealed a contraction of 1.4%, over the 0.2% predicted.
- Further aiding sterling’s gains were stronger-than-forecast UK manufacturing figures, which revealed 0.2% growth in the sector last month, versus the 0.1% contraction expected. Industrial production was also up 0.3% this month.
- In trading so far today the pound has resumed its rally against the single currency, breaking through the 1.17 level as investors continue to digest recent data releases.
- There are no major announcements due in the UK or eurozone today.
Thursday, 11 June 2009
Sterling hits year high against EUR
Sterling strengthened against the euro by 1.05 cents (0.91%) yesterday to close the day at a six-month high of 1.1696.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment