Forex-Euro rise to highest level in a month against the weak pound widely Monday, but gains were limited amid concerns about how to take effective steps by the European Central Bank to deal with the debt crisis in the euro area.
Amounted to EUR/GBP during the European morning trading 0.7946, the highest price for the pair since July 9, when 0.7942, the husband cohesion high 0.30%.
The pair was likely to find support near term when 0.7916, lowest price, and resistance at the highest price, 0.7983 on July 6.
The pound came under pressure amid concerns that the Bank of England would cut its forecast for growth in the quarterly inflation report on Wednesday, raising the prospect of further monetary relief measures from the Central Bank.
Earlier Monday, a report from the Halifax mortgage lending that house prices in Britain fell by 0.6% in July, slightly more than forecast to decline 0.5%, which indicates that the pattern of housing prices broadly stable and unchanged.
The euro remained supported after the European Central Bank Thursday that he may resume its programme of buying securities, to help reduce the cost of borrowing on the Spanish and Italian.
While investors worried amid concerns about the effectiveness of the European Central Bank to buy new bonds in the light of the differences of current bank system.
Boosted risk appetite after data released on Friday showing that the u.s. economy added 163, 000 jobs in July, the largest increase since February last beyond expectation to raise 100,000.
However, the unemployment rate in the United States increased by 8.3%, from 8.2% in the previous month, on speculation about the possibility of increasing cash incentives from the alvidraler reserve.
Investor sentiment was also hit, amid renewed fears that Spain may require new rescue plan after Prime Minister Mariano Rajoy said Madrid may need to request assistance, the European financial stability facility.
Sterling slipped against the dollar, with the decline of GBP/USD ratio 0.49% to 1.5565.
Later in the day, the euro zone will post a report on investor confidence.
In the United States, the President of the Federal Reserve Ben Bernanke to speak, and his remarks will be monitored closely by investors
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