Mixed Euro and US data keeps rates steady
28 July, 2011
The Pound hovered around its newly-found levels against both the Euro and Dollar today, as mixed data from the States and Eurozone did little to encourage either of the currency pairs.
EMU consumer confidence came out at the level expected by analysts, while in the USA there was some good news on the jobs front but bad news in construction of new homes.
As a result sending money in dollars is still around its best level since November, although the mid-market rate has dropped back below 1.60.
For Euro exchange rates, overnight levels of 1.15 were not sustained but a relatively healthy 1.14 is still showing on the live markets.
Tomorrow’s Nationwide house price survey in the UK will be watched at 7am for any clues as to the next direction for the Pound.
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