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british pound

pound weakens against euro as inflation slows

the pound weakened against the euro and gilts rose as a report showed inflation slowed to the least since november 2009, strengthening the case for the bank of england to resume asset purchases to revive the economy.

sterling snapped three days of gains against the yen before the central bank publishes the minutes of its june meeting tomorrow, in which policy makers may indicate their stance on so-called quantitative easing, to lift the u.k. out of recession. two-year gilts climbed even as stocks advanced and spanish notes rose after the nation met its maximum target at a bills auction.

fortucast financial timer - british pound

cash and june british pound

(6/1): the pound fell to the weakest in four months against the dollar after a gauge of u.k. manufacturing slid to the lowest since the depths of the global financial crisis in 2009. u.k. government bonds rose, pushing yields across all maturities to record lows below 3 percent, as investors sought safety amid signs europe’s financial crisis is slowing global growth, bloomberg news reported.

fortucast financial timer - british pound

cash and june british pound

(5/28): the pound snapped a four-day advance against the euro as greek polls showed greater support for parties supporting the country’s bailout plan, damping demand for u.k. assets as a refuge. sterling declined against 13 of its 16 major counterparts before u.k. reports this week that economists said will show consumer confidence worsened and manufacturing contracted, adding to signs the economy is faltering.

fortucast financial timer - british pound

cash and june british pound

(6/1): the pound weakened against the dollar, touching its lowest level in more than four months, and gilts rose amid speculation the fallout from europe’s debt crisis is spreading and will harm the u.k.’s economic outlook, bloomberg news reported. britain’s currency slid for a fourth day against the yen after nick moon, gfk nop ltd. social research managing director, said “consumer confidence remains mired” even as the company’s sentiment gauge rose.

fortucast financial timer - british pound

cash and june british pound

(5/24): the pound trimmed losses against the u.s. dollar on thursday, pulling away from a two-month low but sterling remained under pressure as weak u.k. economic growth data and sustained euro zone debt concerns continued to weigh, forexpros reported. u.k. gross domestic product fell 0.3 percent in the first quarter instead of 0.2 percent estimated earlier, reports showed today.

fortucast financial timer - british pound

cash and june british pound

(5/31): the pound extended losses against the u.s. dollar on wednesday, falling to a fresh four-month low as concerns that the debt crisis in the euro zone is deepening sent investors fleeing towards the safety of the greenback, forexpros reported. consumer confidence in the united kingdom improved slightly in may, but remained negative overall. the gfk nop research group's confidence index for may improved two points to minus-29 from the april reading of minus-31. the reading was better than the minus-33 reading forecast by most economists.

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fortucast financial timer - british pound

cash and june british pound

(5/23): the pound remained lower against the u.s. dollar on wednesday, hovering close to a two-month low as investors turned to a highly anticipated european union summit amid sustained fears over a possible greek exit from the euro zone, forexpros reported. u.k. retail sales fell the most in more than two years in april as record rainfall reduced demand for clothing and fuel sales plunged.

pound falls to 4-month low versus dollar on europe debt concern

the pound weakened to a four-month low against the dollar amid speculation the fallout from europe’s debt crisis is spreading and may harm the outlook for the u.k. economy.

the british currency dropped for a third day against the yen after nobel laureate paul krugman said the government should drop its commitment to fiscal cutbacks and boost spending to avert an extended downturn.

fortucast financial timer - british pound

cash and june british pound

(5/22):  the pound fell for the first time in three days against the dollar after a government report showed u.k. inflation slowed last month more than economists forecast, bloomberg news reported. sterling weakened against most of its 16 major counterparts as the international monetary fund said the bank of england should resume monetary stimulus, or quantitative easing, to help the flagging economy.

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