- The pound advanced further against the dollar yesterday as economic data showed the UK services sector grew more rapidly last month than had been anticipated.
- Waning risk aversion as British and European shares held their value in morning trading, also supported the pound.
- In the afternoon however, stock indices descended into the red, causing the pound to par its gains, falling from a six-day high of 1.6412.
- Questions remain about how far the pound can continue to appreciate with concerns that the UK will maintain an extremely accommodative monetary policy.
- The pound has continued to post marginal gains against the greenback in early trading, as investors anticipate an improved monthly non-farm employment change, data about which is released at 13:30BST.
Friday, 4 September 2009
Pound continues to advance against the greenback
Strong data emerging from the UK yesterday supported the pound as risk aversion eased, lifting sterling to a close $1.6316.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment