the pound extended gains to trade above $ 1.36 for the first time in 4 months(Reuters) - The...
the pound extended gains to trade above $ 1.36 for the first time in 4 months
(Reuters) - The pound rose against a basket of world currencies on Wednesday to widen its fifth straight gain against the US dollar, hovering above $ 1.36 for the first time in four months, taking advantage of the weak performance of the dollar against most major currencies. Today, important data on the British construction sector, one of the most important sectors of the royal economy, indicating the extent of economic recovery during the fourth quarter / 2017.
GBP / USD rose more than 0.1% at 06:35 GMT, trading at $ 1.3605, opening at $ 1.3587; the highest at $ 1.3612 since Sept. 20 and the lowest at $ 1.3584.
The pound ended yesterday's trading up 0.7% against the US dollar, its fifth consecutive daily gain, among the biggest daily gains since November as the dollar continued to fall against most currencies. The manufacturing sector in the UK fell more than expected in December.
The US dollar is trading at its lowest level in 4 months, after a wide loss over five consecutive days, reflecting the performance of the dollar against most major and minor currencies. The dollar has been widely sold recently amid expectations that the gap between US monetary policy and the monetary policy of most global banks, with the aim of those banks to cut stimulus programs and raise interest rates during the current year.
Investors are looking at UK construction data last month, signaling the recovery of the royal economy in the fourth quarter of 2017. The Bank of England has lowered its forecast for economic growth for 2017 and 2018 due to weak domestic demand.
By 09:30 GMT, the PMI is expected to rise to 52.8 in December, and the index reached 53.1 in November.
GBP / USD rose more than 0.1% at 06:35 GMT, trading at $ 1.3605, opening at $ 1.3587; the highest at $ 1.3612 since Sept. 20 and the lowest at $ 1.3584.
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| the pound extended gains to trade above $ 1.36 for the first time in 4 months |
The pound ended yesterday's trading up 0.7% against the US dollar, its fifth consecutive daily gain, among the biggest daily gains since November as the dollar continued to fall against most currencies. The manufacturing sector in the UK fell more than expected in December.
The US dollar is trading at its lowest level in 4 months, after a wide loss over five consecutive days, reflecting the performance of the dollar against most major and minor currencies. The dollar has been widely sold recently amid expectations that the gap between US monetary policy and the monetary policy of most global banks, with the aim of those banks to cut stimulus programs and raise interest rates during the current year.
Investors are looking at UK construction data last month, signaling the recovery of the royal economy in the fourth quarter of 2017. The Bank of England has lowered its forecast for economic growth for 2017 and 2018 due to weak domestic demand.
By 09:30 GMT, the PMI is expected to rise to 52.8 in December, and the index reached 53.1 in November.
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