A fairly interesting week for the Pound against most major currencies, with Sterling hitting a two year high against the Euro and gaining 3 cents over the New Zeal and Dollar in one night, yet at stages dropping below the 1.70 mark against the Dollar and below 1.80 against the Australian Dollar momentarily as well.
The main information we saw out for the U.K and indeed the Pound was that the MPC (Monetary Policy Committee) were still voting 9-0 in favour of no interest rate change, our Retail sales figures were fairly poor and growth figures this morning came out pretty much exactly as expected.
News that caused moves for the NZD was that the Governor of the RBNZ had commented after their interest rate decision that the NZD could significantly fall in the future as the strength of the currency was unjustified.
U.S jobs data and general global attitude to risk appeared to be the main factor behind the strength of the Dollar and Poor European economic data gave us that short term spike against the Euro. Finally, it was RBA (Reserve bank of Australia) Governor Stevens comments earlier in the week that suggested he was once again happy with the strength of the AUD is why we saw the rally back below 1.80 momentarily.
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