Pound sits relatively static around fears for fiscal cliff in US

Currencies Direct November 28th 2012 - < 1 minute read

The pound remained largely static against the dollar on Tuesday
(November 27th), despite fears that the US fiscal cliff
is going to affect the US market badly.

Earlier this week, the pound broke the 1.6000 barrier against
the greenback, but it failed to capitalise on “jitters” across the
Atlantic and did not quite reach a new target for growth of

currency exchange rate
flirted with a level of 1.6010 before
rising slightly later in the day to finish at 1.6025 against the

Elsewhere the euro slipped for the first time this week against
the dollar with fears of the US fiscal cliff lowering sentiment to
leave it sitting at 1.2912 before rising from this three-day low to
finish Tuesday’s trading at a total of 1.2917.

It would also drop against the pound throughout the day to sit
at 0.8071, a drop of 0.1 per cent compared to a day earlier.

Written by
Currencies Direct

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