Daily Forex News
 
Daily World Currencies News from London
Monday 08th of September 2008
July 17, 2007

Sterling strengthens on CPI data

Story link: Sterling strengthens on CPI data

Sterling strengthens on CPI data

New inflation data in the UK showed that consumer price inflation was up at an annual rate of 2.4 percent in June.

The greater than expected rise in inflation sent sterling higher as analysts suggested that the figures could mean more interest rate increases from the Bank of England soon.

Sterling had added 0.4 percent to $2.0450 versus the greenback by midday in New York after having reached a new 26-year high of $2.0476 earlier in the session.

The pound was also 0.4 percent higher in relation to the euro, to £0.6735, while it added 0.4 percent to SFr2.4587 against the Swiss franc.

The euro held its own against the US dollar at $1.3772 as investor confidence dipped in Germany, but the shared currency was still 0.4 percent higher versus the yen at ¥168.50 as investors continued to sell the Japanese currency to fund carry trades.

Most analysts still expect the European Central Bank to raise interest rates in September or October, but some have begun to suspect that a rate hike then might mark the end of the current cycle of tightening in the Eurozone.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

Related stories:

Euro strengthens versus greenback
...
Sterling strengthens on retail sales data
...
Dollar strengthens on economic growth
...
US dollar strengthens on new retail sales data
...
Yen strengthens on investor nervousness
...
Yen strengthens as Bank for International Settlements comments on recent declines
...

Latest News:

Yen stronger versus USD, euro
ECB, BofE hold interest rates steady
Euro weaker on data
US dollar up on lower oil prices
Euro strengthens again
Euro gains on greenback, other currencies
Confidence reports lift USD over euro
Yen, Swiss franc advance on credit concerns
Greenback gains on euro, yen
Yen, Swiss franc stronger on credit fears

[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]
[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]
[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]
[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]
[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]
[Most Recent Exchange Rate from www.kitco.com] [Most Recent Exchange Rate from www.kitco.com]