Sterling Mixed Against Other Majors Thursday Morning, Thursday, May 24, 2007 7:42:32 AM
The sterling was mixed against other currencies Thursday morning in New York, rising to a 6-week high against the euro but easing a bit versus the yen. Dealing took place amid the release of data showing that British business investment fell unexpectedly in the first quarter.The sterling extended gains from the previous 2 sessions against the euro Thursday morning in New York, climbing to a 6-week high of .6762 amid the release of data showing the German economy expanded 0.5% sequentially in the first quarter.
The sterling was range-bound against the dollar Thursday morning in New York, moving between 1.9838 and 1.9883. Traders were nervously awaiting a slew of key economic data from the US, including reports on durable goods and new home sales.
The sterling weakened slightly against the yen Thursday morning in New York, falling to 241 after moving around 241.50 the previous evening. Traders considered data showing that the Japanese economy is expected to grow 2.3 percent in 2007.
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posted by Kalin Tasev @ 5:20 AM
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