Sarah-Landale
Newbie
- Messages
- 2
- Likes
- 0
Sterling has continued to edge higher against the euro during the afternoon session of Forex trading today (December 31st), but was held back slightly as investors expressed concerns over the pound's exposure to eurozone debt.
Reuters reports the euro was down 0.3 per cent against the British currency by 15:03 GMT, putting it on 84.6p.
However, gains were limited and the pound was unable to move into positive territory versus the dollar, remaining largely unchanged on $1.5555, above the three-month low of $1.5454 it hit on Friday.
Last week, the Bank of England's Financial Stability Report indicated banks in the UK are still exposed to sovereign debt problems in other European nations and traders are also unlikely to have welcomed the Confederation of British Industry's decision to cut its economic growth forecast for the first quarter of 2011.
On the FTSE 100, shares are on track to end higher, despite falls from British Airways and Next, the news agency reports.
Reuters reports the euro was down 0.3 per cent against the British currency by 15:03 GMT, putting it on 84.6p.
However, gains were limited and the pound was unable to move into positive territory versus the dollar, remaining largely unchanged on $1.5555, above the three-month low of $1.5454 it hit on Friday.
Last week, the Bank of England's Financial Stability Report indicated banks in the UK are still exposed to sovereign debt problems in other European nations and traders are also unlikely to have welcomed the Confederation of British Industry's decision to cut its economic growth forecast for the first quarter of 2011.
On the FTSE 100, shares are on track to end higher, despite falls from British Airways and Next, the news agency reports.
