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Foreign exchange market: the pound stable, the dollar rising

12/01/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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En fin de cette semaine, la livre sterling est restée stable tandis que les Australian and New Zealand dollars rose.

After data showed that British growth exceeded expectations in November, British pound changed little on Friday, not far from its highest level in five months, pound sterling changed little on Friday, not far from its highest level in five months. The pound remained stable at $1.2753, close to $1.2825 reached at the end of December, its highest level since August. Sterling rose by around 0.3% this year, after climbing by more than 5% in 2023. The pound sterling also remained stable against the euro, with the eurozone currency trading at 85.95 pence. The euro has lost 0.8% since the start of the year against the pound.

Australian and New Zealand dollars increased slightly. Aussie was up 0.2% at $0.6698, after reaching $0.6647 at some point during the night, but faces strong resistance around $0.6735. Likewise, the Kiwi dollar has returned to $0.6240 after a low of $0.6196, but may struggle to break the resistance at

$0.6274.
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