Pound starts the week lower than Friday’s level

Currencies Direct December 24th 2012 - < 1 minute read

With Monday (December
24th) expected to be a quiet day thanks to the arrival
of Christmas Eve, the pound is trading lower on the Asian markets
ahead of the opening of European counterparts, thanks to a fall on
Friday night that it will do well to recover from.

The pound ended last week with
currency exchange rate of 1.6235 against
the dollar, but this saw a sharp fall late on Friday night, which
dropped it back below the 1.6200 level.

And now the currency will begin
Monday with a much decreased level of 1.6170 with a quiet
day expected ahead of the holidays on Monday.

Elsewhere, the euro remains
relatively quiet ahead of the opening of the markets, and it is
currently trading at a rate only marginally below that which it saw
on Friday, when the single currency sat at 1.3188 against the
dollar.

The pair is now set to open trading
at a level of 1.3179 headed into Christmas.

Written by
Currencies Direct

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