- Lingering concerns about the global economy, fed by Thursday’s poor US payrolls figures, saw risk appetite suffer and caution surfaced ahead of this Thursday’s Bank of England meeting.
- Falling equity prices also undermined the pound’s position yesterday.
- Today sees a barrage of economic data released. In the UK, industrial and manufacturing production data is announced this morning and BRC Shop Price Index, Nationwide Consumer Confidence and NIESR GDP Estimate figures are released later in the day.
- In the US, API Crude Oil Inventories and ABC/Washington Post Consumer Confidence data will be announced this evening.
Tuesday, 7 July 2009
Sterling hits 1-month low against the US dollar
The pound fell against the US dollar yesterday, hitting a one month low as concerns about the UK economy and expectations that the Bank of England would increase its quantitative easing programme saw the pound heavily sold off.
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