nirvanatgr
Joined: 11 May 2011
Posts: 1595
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 Posted: Wed May 11, 2011 1:55 am Post subject: Unexpectedly weak data from the U.K. |
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Unexpectedly weak data from the U.K.
manufacturing sector pushes back
the likelihood of an interest
rate hike sending the Pound Sterling broadly lower in Asian trading.
As reported at 2:34 p.m.
(JST) in Tokyo, the Pound Sterling traded lower against the safe haven Swiss Franc at 1.4180,
a decline of 1.5%. Against the U.S. Dollar,
the Pound posted its largest single day drop in more than three months,
falling to $1.4646 before rebounding to $1.6480.
The Bank of Englands monetary policy committee meets tomorrow,
with the discussion likely revolving around an interest rate hike;
most analysts agree that an increase is not in the works at this time.bingo games
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