Currency Headlines
Pound recovers on U.S economic uncertainty.
Pound is hovering in bullish territory as the U.S economic uncertainty has given support to the demand of GBP for hedging purpose. U.S fiscal cliff and uncertainty on budget approval has increased the pressure on US dollar. The BCC lowered its 2013 growth forecast to 1 percent from 1.2 percent in September and its 2014 projection to 1.8 percent from 2.2 percent, the London-based group said in a report. The pound rose 0.2 percent to $1.6117 after advancing to $1.6130, the strongest since Nov. 2. Sterling was little changed at 81.10 pence per euro. It depreciated to 81.33 pence on Nov. 30, the weakest level since Oct. 24.
Euro steady on EU optimism on Greece Economy.
Euro is still maintaining its recent high as the European Union finance ministers have confidence on Greece economy as it will pull off a successful bond buyback which has given support to their economy. Greece began the 10 billion-euro ($13 billion) repurchase of bonds maturing from 2023 to 2042, offering a higher-than-planned price in order to increase demand for the debt-reduction measure. The euro fetched $1.3056 from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.
Pound recovers on U.S economic uncertainty.
Pound is hovering in bullish territory as the U.S economic uncertainty has given support to the demand of GBP for hedging purpose. U.S fiscal cliff and uncertainty on budget approval has increased the pressure on US dollar. The BCC lowered its 2013 growth forecast to 1 percent from 1.2 percent in September and its 2014 projection to 1.8 percent from 2.2 percent, the London-based group said in a report. The pound rose 0.2 percent to $1.6117 after advancing to $1.6130, the strongest since Nov. 2. Sterling was little changed at 81.10 pence per euro. It depreciated to 81.33 pence on Nov. 30, the weakest level since Oct. 24.
Euro steady on EU optimism on Greece Economy.
Euro is still maintaining its recent high as the European Union finance ministers have confidence on Greece economy as it will pull off a successful bond buyback which has given support to their economy. Greece began the 10 billion-euro ($13 billion) repurchase of bonds maturing from 2023 to 2042, offering a higher-than-planned price in order to increase demand for the debt-reduction measure. The euro fetched $1.3056 from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.
