Market Commentary and Intraday News
Pound At 3-month High Against US Dollar Ahead Of UK Public Sector Finance Data
269 days ago
(RTTNews) - The cable continued to creep higher in early deals Tuesday, rising above the 1.5780 for the first time since May 22. The pound rose as high as 1.5781 against the greenback, up almost 70-pips from the day's opening value of 1.5712.
The pound also traded at a 7-week high of 125.39 against the yen and steadied at 0.7875 against the euro and 1.5260 against the Swiss franc ahead of the U.K. public sector finance data for July, which is due out at 4:30 am ET. Public sector net borrowing is seen at -GBP 2.2 billion compared to June's GBP 14.4 billion in June.
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