Pound drops before Carney testimony

Currencies Direct November 26th 2013 - < 1 minute read

The pound retreated from a high against the dollar on Tuesday
(November 26th) before Bank of England governor Mark Carney
testifies in front of parliament.

GBP/USD was trading at 1.6192, after climbing to 1.6240
yesterday, the highest for the
exchange rate
since October 25th.

Sterling also recorded its third straight loss against
the euro, with EUR/GBP slackening 0.1 per cent to
0.8368, after dropping 0.5 in the previous two days.

Elsewhere, the yen snapped a three-day decline against the
dollar after Bank of Japan officials warned of risks to the
economy.

USD/JPY dropped 0.2 per cent to 101.45, though the pair
remains not far off a six-month high scaled on Monday.

AUD/USD was up 0.25 per cent at 0.9184, shrugging off
comments from Reserve Bank of Australia deputy governor Philip Lowe
that the currency should weaken over time.

Meanwhile the euro reverse recent losses against the
dollar, with EUR/USD climbing 0.35 per cent to 1.3564
after losing around 0.5 per cent yesterday.

Written by
Currencies Direct

Select a topic: