Pound drops on Thanksgiving to wipe out gains earlier in the week
Currencies Direct November 23rd 2012 - < 1 minute read
The pound suffered on Thursday (November 22nd) ,
after having seen gains made earlier in the week against the dollar
largely erased in its
currency exchange rate.
It had seemed through Tuesday and Wednesday that the pound was
going to be reaching out towards the 1.6000 psychological barrier
that it has fallen below in recent weeks, as it rose to highs of
1.5942 against the greenback.
However, with the American markets on a slow down on
Thanksgiving, the pound suffered, and this rate dropped down
towards the 1.59000 low in spite of having performed well in
previous days.
This was not the same for the euro though, which actually saw
its good week up until now continue once again. On Thursday, the
single currency rose against the dollar following a lack of
negative news from the troubled region.
The euro consolidated at around 1.29000 against the greenback on
Thursday as it looked towards a generally positive week on Friday
following falls in weeks gone by.
Written by
Currencies Direct