STRONG PERFORMANCE BY STERLING
UK industrial production rises in April. G8 endorses dollar as reserve currency. Loonie loses ground for no obvious reason.
Last Monday’s $1.78 opening was the low of the week. The pound strode ahead to reach $1.8450 on Friday and was still up at $1.84 when London opened this morning.
A much-reduced flow of UK [...]
STERLING HIT BY CHARTS AND POLITICS
Technical resistance and Downing Street unrest took their toll on sterling despite decent economic data. UK and Canadian interest rates remained unchanged after policy meetings.The week began promisingly for sterling with a rally that took it from $1.77 to above $1.8150 by Thursday. It did not last. The pound had [...]
INVESTORS GO FOR RISK AND YIELD
Few ecostats from the UK but positive on balance. Commodity currencies in favour.Sterling lost two cents on the week, falling from $1.79 to $1.77. It took three days for investors to make up their minds but on Friday they decided commodities were back in fashion.
Another week of parliamentary pilferage reports [...]