Pound Mixed Early Monday Ahead Of Data, Monday, April 16, 2007 3:56:54 AM
The British currency showed mixed trading ahead of data early Monday in New York. The sterling trended slightly higher against the Japanese yen but it was slightly down against the US dollar. To the European and the Swiss currencies, the cable showed uncertainty during this period.The British producer price indices for March are expected by 4:30 am ET on Monday. Seasonally adjusted monthly input is expected to grow 0.9% and the adjusted core output to rise 0.3% in the reference month. Both the figures are less than what recorded for the previous month. DCLG house prices details for February are also expected simultaneously.
Around midnight, the pound remained higher against the US dollar and the pair was quoted at 1.9897 at 12:15 am ET on Monday. The sterling then slid briefly against the buck but the pair soon started another upward trend, which moved it from 1.9869 to 1.9891by about 2:55 am ET. The pound lost its ground again and was worth 1.9873 dollars at 3:45 am ET. The US retail sales data for March and the empire manufacturing numbers for April are expected later in the morning.
The British currency trended higher against the euro early Monday ahead of the German economic data. At 2:00 am ET, the pair traded at 0.6810 and changed direction amid the release of German inflation figures. As of 3:45 am ET, the euro was quoted at 0.6818 against the sterling.
The British currency continued its slightly upward journey against the Japanese yen, which was started in the late hours on Sunday, into the small hours on Monday. At 3:05 am ET, after hitting as high as 237.73, the sterling dropped a few pips against the yen but held the upward trend, largely. As of 3:45 am ET, the pair equaled 237.37.
The British currency showed uncertainty against the Swiss franc during the very early deals on Monday in New York. The pair largely bounced around between 2.4112 and 2.4144 during this session. At 3:45 am ET, the sterling was equal to 2.4116 francs.
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posted by Kalin Tasev @ 2:34 AM
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