Sterling was up, while Euro was steady. How about the dollar?
Friday’s exchange rate for the euro was $1.05580. The currency was close to the six-month high it reached at the start of the week. It recorded its third consecutive week in gains.
The British Pound rose 0.2% to $1.2268080 during the session. It traded at $1.2345 on Monday, just a few months after its peak of $1.2345. The British authorities announced new reforms to ensure London remains one of the most attractive financial centers worldwide. This news helped to strengthen the Sterling.
Today, the Japanese yen rose by 0.7%. The yen traded up 0.6% to 135.850 last night. The U.S. Dollar fell against the major currencies on Friday. Investors are concerned about the state of the American economy. They are waiting for data on producer inflation, which will be available later today. The Federal Reserve will also announce its policy regarding interest rates at its next meeting.
Many other central banks plan to launch their new strategy next week for interest rate increases. According to market participants, all three banks will slow down the…