Forex Focus is brought to you by IG Markets - Forex Trading
HISTORICAL DETAILS
% Change
1 Wk 1.72%
1 Month 2.77%
3 Months -1.36%
6 Months 3.69%
1 Year 6.33%
52 WEEK
High 1.6747
Low 1.5251
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.63
Q3 2011 1.62
Q4 2011 1.63
Q1 2012 1.62
DAILY DETAIL
Sterling hit a six-week high of $1.6421 against the US dollar despite the weak second-quarter UK GDP reading, which showed an expansion of 0.7% on the year. Quarterly growth expanded by a meagre 0.2%, however the ONS explained that quarterly growth could have been as high as 0.7% had it not been for a number of one-off effects (such as the extra public holiday in April). Sterling also benefited from weakness in the US dollar as US lawmakers remained at an impasse in raising the debt ceiling. With the deadline only a week away, investors are beginning to panic and are reducing their exposure to the US dollar. Jana Pristovsek, London
No comments:
Post a Comment