Sterling Little Changed Against Yen And Franc Late Sunday In New York Monday, April 16, 2007 12:13:17 AM
Monday, April 16, 2007 12:13:17 AM - The British currency stood little changed against the Japanese yen and the Swiss Franc after Sunday`s late deals in New York. The sterling strengthened to the yen initially but it was weak against the franc, then. However, both the trends were reversed later and around midnight, the pairs showed little change from its levels at the beginning of the session.The UK Rightmove house prices data for April was released at 7:01 pm ET on Sunday. The prices grew 3.6% on the month and 15% on the year. The sessions followed are busy with key fundamentals expected from the major economies
Following final industrial production numbers and shipments data for February from Japan, the British producer price indices for March are expected early Monday in New York. The 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.
Late evening movement of the British pound against the Japanese currency made the pair grow from 236.85 to 237.93 by about 6:40 pm ET. The pair then weakened and collected 236.56 at 8:25 pm. The sterling regained its momentum soon after and as of 12:05 am ET on Monday it was quoted at 237.20 against the yen.
Sunday afternoon in New York, the British currency staged a fall against the Swiss franc. The pair hit 2.4054 at 3:00 pm ET, compared to 2.4145, the level held half an hour before. After that, the pound trended higher and was worth 2.4128 francs as of 12:05 am ET on Monday.
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posted by Kalin Tasev @ 2:29 AM
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