Pound Recovers Against Majors
19 Febrero 2010 - 6:19AM
RTTF2
In European deals on Friday, the pound recovered from new
multi-day lows against the euro and the franc. The pound bounced
back from a 3-day low against the yen and against the U.S.
currency, The pound recouped from a multi-month low.
U.K. retail sales was down 1.8% on a monthly basis in January,
the Office for National Statistics said in a report Today. This was
the biggest decrease since June 2008 and larger than the expected
0.5% fall.
Year on year, retail sales volume rose 0.9% in January, smaller
than the consensus forecast of 1.1%. Predominantly food stores
increased 0.4% compared to the same period a year ago, while growth
in non-food stores was 2.8%. Total sales volume in the three months
to January was 2.2% higher than the same period a year ago.
The pound recouped against the 16-nation currency. Moving up
from a new 8-day low hit earlier the pound touched 0.8774 at 6:50
am ET. As of now, the euro-pound pair is trading at 0.8776,
compared to yesterday's close of 0.8716
The pound recovered to 1.6710 against the Swiss franc at 6:55 am
ET, rising from a new 8-day low 1.6667 hit earlier. As of now, the
pound is worth 1.6707 against the franc. The pair closed
yesterday's session at 1.6827.
The pound, which is trading at a multi-month low against the
U.S. dollar, climbed to 1.5385 at 7:00 am ET. Presently, the
pound-greenback pair is trading at 1.5398, down from yesterday's
close of 1.5517.
The pound recovered slightly from a 3-day low against the yen
during Friday's European deals. The pound touched a high of 141.44
at 6:55 am ET, rising from a low of 140.94 hit earlier. Presently,
the pound-yen pair is trading at 141.40, down from Thursday's close
of 142.63.
There are no significant economic report due for release in the
upcoming hours. However, across the Atlantic, the U.S. CPI for
January is likely to influence trading.
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