On Friday this week, economists will receive the latest figures that represent the German business climate. It’s forecast to decline for the fourth month in a row to 86.9 in August from 87.3 in July.
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The pound edged lower against the euro on Friday as UK retail sales reports fell short of market expectations. It’s believed rainy weather and high prices weighed on consumer spending.
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The pound soared to a five-week high against the euro late last week and remains close to said high this morning. The pound is up close to 1% on the week and 1.3% up on the month.
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Sterling continues to hover close to its highest point since last August against the euro, where it has been for the last week. That’s 1% above last Monday and a good 1.3% above where it was a month…
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While the overall picture was more mixed for the US dollar yesterday, USD/CNY hit 7.316, it’s highest level since before the global financial crisis.
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It’s been a mixed period for the single currency, with losses of over 1% against the pound and US dollar but large gains against most other major currencies, most notably the Australian and New Zealand dollars and Scandinavian…
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Even with the 0.25% drop this morning following retail sales data, GBP/EUR is still well over 1% up on the week and not far from its highest level for a year.
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Sterling has a strongly positive day yesterday, climbing close to its highest position against the euro since last August. The gains were on the back of Wednesday’s inflation data that showed a good enough fall – from 7.9%…
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