|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

Investment News feed Investment News

All Financial News feed All Financial News




US dollar mixed on growth figures

Bookmark and Share

by Elaine Frei

Sterling strengthened on Monday after new data showed that house prices in the UK rose at their fastest rate in two years in October and mortgage approvals were at their highest in two and a half years in September. Both reports appeared to indicate that the Bank of England will raise interest rates again when its monetary policy committee meets next week.

By the middle of the afternoon in New York, the UK currency was 0.2 percent higher against the US dollar to $1.9020, while it had added 0.5 percent to £0.6680 versus the euro, its highest level in a year and a quarter.

The US dollar, meanwhile, didn’t seem to know where to go as it gained 0.2 percent to $1.2715 versus the euro but dropped 0.1 percent to ¥117.40 in relation to the Japanese yen. This followed a decline by the greenback on Friday on the news that the US economy had not grown as much as had been hoped.

The yen added 0.3 percent to ¥149.30 against the euro as most analysts expected the Bank of Japan to hold interest rates at the current level of 0.25 percent when it meets on Tuesday. The yen was also helped by the news that the Swiss National Bank has added more yen to its foreign exchange reserves.

In Brazil, the reelection of Luiz Inacio Lula da Silva as president sent the real 0.3 percent lower to R$2.1340 to the US dollar.

Discuss this in the Finance Markets forums

Story link: US dollar mixed on growth figures



News posted: October 30, 2006

Financial Services:





Related financial stories to: US dollar mixed on growth figures:
Previous: «
Next: »

Visited 744 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.