The pound climbed sharply against the dollar and the yen as an employment report with optimistic figures may have indicated that the worst of the recession is already behind, spurring demand for the British currency.
The pound, which lost significantly against the dollar and the yen last week, virtually pared its losses as an employment report in Britain brought optimism back among domestic investors. Today Intel Corp. forecast sales beyond analysts’ predictions, adding attractiveness for the pound sterling profile, which may proceed its rally if the current scenario remains unchanged.
GBP/USD traded at 1.6422 as of 20:16 GMT from an intraday price of 1.6275.
If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.
The loonie posted the third day of advances against its U.S. counterpart as the crude oil, one of the main country’s exports, advanced today, boosting demand for the Canadian currency.
The Canadian dollar has been one of the best performing currencies this week, as stocks and commodities rebounded thanks to a renewed risk appetite among traders, favoring the high-yielding profile of the loonie. The greenback may continue to loose further versus its Canadian counterpart if the demand for commodities continues on the rise, increasing attractiveness for the commodity-linked Canadian currency.
USD/CAD fell to 1.1125 from a previous rate of 1.1365 in the intraday comparison.
If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.
Obama Administration reportedly considering plans to make direct mortgage payments on behalf of some homeowners who are late on payments; also considering whether to allow delinquent borrowers to stay in their homes as renters - unconfirmed report. Plan would reportedly use rescue funds to subsidize the mortgage companies that participate in such a program. This is as speculated overnight, and will need to be confirmed to move past the rumor mill.
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