Sterling weaker on data
by Elaine Frei
The euro strengthened on the day Thursday, while sterling was weaker.
Gains for the shared currency came even though Germany has joined France in calling for more input from Eurozone governments on currency issues, now largely decided by the European Central Bank.
The euro added 0.1 percent to $1.3817 against the US dollar, and 0.3 percent each in relation to sterling and the yen, to £0.6745 and ¥168.67 respectively.
By mid-session in New York, the pound had fallen 0.1 percent against the yen to ¥249.98 and was down 0.2 percent to $2.0483 against the greenback on new figures showing that both retail sales and mortgage approvals in the UK are down.
The Chinese renminbi reached a new record high since revaluation, trading as high as Rmb7.5615 during the day on the news that the nation’s gross domestic product had grown by 11.0 percent in the second quarter.
Also seeing gains on the day was the Turkish lira, which added 0.8 percent to TL1.2655 versus the US dollar ahead of a general election in Turkey on Sunday.
Story link: Sterling weaker on data
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