Sterling capitalises on recent gains
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
A strong open to the week for sterling as the pound climbs to a six-week high against the US dollar as well as building on its recent rally against the single currency.Comments by Goldman Sachs indicating that the UK is expected to grow faster than other major economies have also been supporting the pound.
It's been a good start to the year for the pound retracing some of its pre Christmas losses against the US dollar. Although it appears that the UK’s economic position is improving, analysts attribute some of the gains to weakness in its trading counterparts, primarily concerns of the economic structure in Greece and general US dollar weakness.
The recent Euro weakness is primarily the result of the Greek national debt crisis. Any decisions made by the ECB will be closely watched by other countries under pressure in the Euro-zone.
Tuesday 19 January 2010, 12:41pm
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