USD strong gainst sterling while won continues in strength

USD strong gainst sterling while won continues in strength

Story link: USD strong gainst sterling while won continues in strength

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At midday in New York, the dollar was down in relation to the euro, but sterling was down in relation to the dollar.

In the US, new data showed that retail sales were up and inflation steady, leading some analysts to think that the Federal Reserve might pause in its moves in monetary tightening.

This, coupled with increasing calls in the UK for interest rate cuts, kept the dollar steady but barely and caused sterling to fall slightly.

By midday in New York, the dollar was slightly lower in relation to the euro at $1.2095, while sterling fell to $1.7591 against the dollar.

Meanwhile, the South Korean won sat at Won1,031 in relation to the dollar.

The won was near a seven-year high against the yen as Seoul’s Kospi index closed at a 10 ½ year high on Thursday.