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British Pound Hits 26 Year High
Wednesday, 31 October 2007 22:39:26 GMT
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- Thursday, 29 November 2007 21:53:09 GMT Bank of England Offers Emergency Funds
- Wednesday, 28 November 2007 20:57:33 GMT British Pound Rallies on BoE Comments
- Tuesday, 27 November 2007 21:30:03 GMT British Pound: Waiting for More Direction
- Monday, 26 November 2007 21:44:12 GMT British Pound: Licking Its Wounds
- Friday, 23 November 2007 19:01:26 GMT British Pound: Up to 75bp of Easing Next Year
- Wednesday, 21 November 2007 20:54:43 GMT British Pound Falls to 4 Year Low Against Euro
- Tuesday, 20 November 2007 21:20:57 GMT British Pound Rallying Ahead of Bank of England Minutes
- Monday, 19 November 2007 22:20:24 GMT British Pound: Still Weak But Losses are Becoming Limited
- Friday, 16 November 2007 22:38:31 GMT British Pound Closes Its Worst Week Since The August Credit Crunch
- Thursday, 15 November 2007 18:24:28 GMT British Pound Extends Losses Following Retail Sales Numbers
- Wednesday, 14 November 2007 21:18:27 GMT British Pound: Possible Rate Cut in 2008
- Tuesday, 13 November 2007 21:35:23 GMT UK Consumer Prices are Hot
- Monday, 12 November 2007 21:51:42 GMT British Pound: Down 400 Pips
- Friday, 09 November 2007 21:32:01 GMT British Pound Hit By Sharp Rise in Trade Deficit
- Thursday, 08 November 2007 21:03:57 GMT British Pound: The Strongest of the Bunch?
- Wednesday, 07 November 2007 20:44:49 GMT British Pound Takes Out 2.10
- Tuesday, 06 November 2007 21:18:23 GMT British Pound Advances Towards 2.10
- Monday, 05 November 2007 22:16:08 GMT British Pound Finally Succumbs to Weaker Economic Data
- Friday, 02 November 2007 21:16:18 GMT British Pound Hits Highest Level Since 1991
- Thursday, 01 November 2007 20:40:35 GMT British Pound Hit By Dollar Weakness Not Softer Economic Data
The British pound rose to a 26 year high on the back of broad dollar weakness and speculation that the housing market may not be in as much as trouble as everyone may have initially thought. According to Nationwide, tight supply drove house prices up 1.1 percent in October, the biggest rise in four months.
Consumer confidence however has fallen to the lowest level since March, which signals potential troubles ahead for retail sales, but for British pound traders this has mattered little since demand for high yielding currencies and dollar strength or weakness seems to be the primary driver of the currency’s movements at the moment. Manufacturing PMI is due for release tomorrow. The recent strength of the British pound is expected to dampen manufacturing activity.
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