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. The Pound traded close to its six-month peak of $1.2345, which was reached on Monday. The British authorities announced new reforms to ensure London remains one of the most attractive financial hubs in the world. This news strengthened the Sterling.
The Japanese yen gained as much as 0.7% today. 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 America’s economic health. They are waiting for data on producer inflation, which will be available later today. Aside from that, the Federal Reserve will announce its interest rate policy at its next meeting.
Other central banks, such as the European Central Bank or the Bank of England, are also expected to announce their new strategy for interest rates hikes next week. Market participants believe that all three banks are going to slow down…