Sterling weaker on BofE report, comments
by Elaine Frei
Sterling was weaker Wednesday on remarks from the Bank of England’s governor which, along with the Bank’s quarterly inflation report, led analysts to the conclusion that UK interest rates will be cut at least once next year.
At just before 1:30 in New York, the pound was trading at 71.34p versus the euro, barely off a four-year low reached earlier in London trade, while it took $2.0561 or ¥229.5429 to buy a pound.
The yen was also weaker as investors returned to risky carry trades.
Japan’s currency traded at ¥111.64 to the dollar while it stood at ¥163.7534 to the euro on Wednesday afternoon in New York.
The US dollar was also lower, trading at $1.4668 to the euro in afternoon trade, while just a bit earlier in the session the greenback was 1 percent lower against the South African rand as the rand traded at 6.6097 to the dollar.
Story link: Sterling weaker on BofE report, comments
Add to Bookmarks:
Related Stories:
Sterling, euro weaker on rate decisions ...New Zealand dollar, yen weaker ...
Yen, greenback weaker ...
US dollar steady against euro, slightly weaker versus sterling ...
Sterling weaker on data ...
Previous: « French Connection issues profit warning
Next: Base metals prices higher on session »
Visited 212 times, 2 so far today