BOE Hammering! Sterling loses two cents to Euro and Dollar
Quote of the day: “The opportunity is often lost by deliberating.”
November 6th: Highlights
- Bank of England deals blow to Sterling
- Pound loses two cents versus euro and dollar
- UK industrial production drops
- Bad week for China and Canada
GBP/USD has fallen to 1.5159 levels, dropping 1.2% following the dovish tone struck by Mark Carney yesterday. In breaking news just released, industrial production dropped by a bigger than expected 0.2% in September, month on month, however UK manufacturers chalked up a 0.8% increase in output, up from 0.6% that was forecasted. If you have any end of week transfers, log on and compare live quotes today.
EUR/USD exchange rates were little changed, moving around 1.08700. Yesterday, the US Dept of Labor delivered a report showing the number of individuals filing for initial jobless benefits increased to over 275,000 from last week’s figure of 260,000.
It’s been a tricky week for China, losing ground to most of its peers. The country continues to deal with the effect of low commodity prices and the fallout of the market crash.
The Aussie Dollar performed steady against the Dollar at 0.7142, while the Kiwi Dollar gained 0.39% against Cable to 0.6618
Have a great day!
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