Sterling weakened modestly against the US Dollar today as the UK Debt Management Office sold off 2.5 billion Pounds of thirty-year debt.
The Pound Sterling Exchange Rate was in the region of 1.5268 against the US Dollar as of 14:40 GMT
After the sale of debt maturing in 2044, UK government bonds rose for the first time in several days. The bonds rise was aided by increased appetite for safe-haven asset as European stocks fell.
Yesterday Sterling strengthened against its peers as the Bank of England positively reassessed its economic growth projections for the UK, but the British currency edged towards a six-week low against the US Dollar during the European session before holding relatively steady, trading around 1.5225.
And with investors turning to safe-haven assets in the wake of Eurozone consumer-price inflation data (which slowed to the least for more than three years) the US Dollar broadly firmed ahead of the release of US housing starts, building permits, inflation and jobless claims figures.
But after the US data failed to meet expectations the Pound was able to pair losses against its American rival.
While US CPI fell by 0.4 percent in April, housing starts dropped by 16.5 per cent and first-time jobless claims reached a six-week high.
An absence of influential global economic news may limit Pound movement tomorrow, but investors will be looking ahead to next week’s main UK data releases, including Tuesday’s inflation figures and Wednesday’s publication of the Bank of England meeting minutes.
Current Pound Sterling (GBP) Exchange Rates:
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The Pound Sterling/US Dollar Exchange Rate is currently in the region of: 1.5268 >
The Pound Sterling/Euro Exchange Rate is currently in the region of: 1.1839 >
The Pound Sterling/Australian Dollar Exchange Rate is currently in the region of: 1.5506 >
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.8701 >
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6555 <
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8446 <
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6460 <
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5358 <
(As of 14:40 GMT)
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