Tuesday February 8, 2005 - 11:54:28 GMT
Share This Story
INVESTICA Ltd - www.investica.co.uk
Sterling hits 11-week low
Sterling remained on the defensive against the dollar as the US currency rallied across the board and Sterling dipped to a low of 1.8550 against the US dollar in early Europe on Tuesday. Sterling was unable to take advantage of Euro vulnerability and failed to push through 0.6850 against the Euro. Subsequently, Sterling dipped to a low of 1.8520
The British Retail Consortium reported that retail sales rose 0.5% in January, the strongest performance for three months, but the immediate impact will be limited with attention focussed away from Sterling at present. A sustained drop below 1.8550 would undermine Sterling’s technical position.
The trade and industrial production figures tomorrow will be potentially important. A combination of weak production and a wider trade deficit would increase fundamental concerns over Sterling. The figures will, however, have to be extreme to provoke a major near-term Sterling reaction.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."