Pound At 4-day Lows Against Euro And Dollar [GBP/USD]
4/21/2008 5:56:20 AM Monday during early deals, the British pound weakened to 4-day lows against the euro and the dollar. Against its US counterpart, the pound fell from a 17-day high.

At about 5:30 am ET, the pound fell to a 4-day low of 0.8001 against the euro. The euro-pound pair closed Friday`s trading at 0.7917.

The pound lost ground against its US counterpart after hitting a 17-day high of 2.0028 by about 9:40 pm ET, Sunday. The pair fell to a 4-day low of 1.9834 by about 5:30 am ET, compared to 1.9974 hit late Friday in New York.

UK banking system received a lending boost from the central bank. The BoE launched the much-hyped GBP50 billion Special Liquidity Scheme to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills.

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • bodytext
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google