Last Updated : February 02, 2012 14:19
British pound to trade higher on dollar weakness
The Pound appreciated by 0.5 percent on Wednesday, on the back of positive economic data from the country. Additionally, a weaker dollar also acted as a supportive factor for the currency. The GBP touched an intra-day high of 1.5882 and closed at 1.5831 on Wednesday.
UK's Manufacturing PMI increased to 52.1 in January from previous 49.6 in December. The country’s Nationwide HPI remained unchanged at -0.2 percent in January.
Outlook
The Pound is expected to trade with a positive bias today as rise in risk appetite in the global markets and dollar weakness will act as a supportive factor for the currency.
Courtesy:Angel Broking
NCDEX PEPPERMALABARGARBLEJUL12 20 July 2012
contract was trading at
Rs 0 . What's your view on it?
