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Day: January 4, 2011
January 42011
Pound Jumps as Mortgage Approvals Advance
The Great Britain pound strengthened today after the report showed that the number of the mortgage approvals unexpectedly increased in November. The number of loan approvals for house purchase slightly increased from the October figure of 47,315 to 48,019 in November. The expected value was 46,500. Total lending to individuals rose £0.7 billion in November. GBP/USD jumped from 1.5485 to 1.5627 as of 13:41 GMT today, while GBP/JPY advanced from 126.58 to 128.37. If you have […]
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January 42011
Indian Rupee Slumps as Forecasts Promise Widening Account Deficit
The Indian rupee slumped today on concerns that the nation’s current-account deficit would widen as India’s central bank blocked dollar or euro payments for Iranian oil. India’s current account deficit increased from $12.1 billion in the second quarter of 2010 to $15.8 billion in the third quarter and may jump to $17 billion in the first half of this year, according to the analysts’ forecast. The economists predict that, as a result, the attractiveness of the rupee will fall and the currency […]
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