Sterling Adds To Recent Gains Versus Euro
Posted on 26. Mar, 2007 by admin in Forex News
The sterling gained ground on the yen and euro in early dealing Monday in New York, with traders awaiting Monday evening’s release of UK house prices data.
The pound posted steady gains against the yen Monday morning in New York, bouncing back from losses in the previous session. The sterling fetched 231.95 approaching mid-morning, with traders assessing the minutes of the February Bank of Japan Policy Board meeting.
The pound continued to see strength against the euro Monday morning in New York. After rising to a 3 week high of .6756 in overnight dealing, the sterling was only slightly softer at .6765 approaching mid-morning. Data released Monday morning showed that French business confidence unexpectedly improved in March.
Choppy dealing left the sterling near Friday’s level of around 1.9615 against the dollar Monday morning in New York. US new home sales data is set for release later Monday morning. Data on Friday showed existing U.S. home sales jumped 3.9 percent in February, the strongest rise in three years.
