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Day: December 5, 2007
December 52007
Great Britain Pound Falls on Rate Cut Expectation
Great Britain pound reached its two month minimum value against U.S. dollar today under the pressure of an interest rate cut during tomorrow Bank of England rates decision. GBP/USD touched 2.0353 level — the lowest since October 23. Chartered Institute of Purchasing and Supply released its PMI data today showing a decrease to 51.9 in November from 53.1 in October, while analysts expected almost the same number in November — […]
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December 52007
Dollar Stronger Against Euro, Pound
Dollar started to trade higher today against euro after the productivity report by the Bureau of Labor Statistics came out, as it was trading against pound sterling earlier in the morning after some bearish data on United Kingdom PMI and housing were released. Nonfarm productivity (revised value) in third quarter of 2007 increased unexpectedly well — by 6.3%. Previous value was 4.9% and the analysts’ expectations averaged at 5.8% growth. This indicator […]
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