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British Pound Slides To 9-day Low Against Dollar; Hits Multi-day Highs Against Euro And Franc [GBP/USD]
4/25/2008 3:32:39 AM Friday morning, the British pound dipped to a 9-day low against the US dollar, while it strengthened to multi-day highs against its European and Swiss counterparts. Against the yen, the sterling showed weakness during this time.

The pound, which closed yesterday`s trading at 0.7947 against the euro advanced to 0.7928 at about 3:25 am ET. This set a 4-day high for the pound.

Against the franc, the British currency advanced to a 6-day high of 2.0488 at about 3:25 am ET Friday, compared to yesterday`s New York Session close of 2.0444.

At about 3:15 am ET, the pound-dollar pair reached a 9-day low of 1.9679, dropping from an Asian high of 1.9761 The pair was worth 1.9742 at Thursday`s North American close.

In early deals on Friday, the British currency lost ground against the Japanese yen after hitting a high of 206.16. The pound-yen pair is currently trading at 205.65 compared to 205.80 hit late yesterday in New York.

According to data released today by the Ministry of Internal Affairs and Communications, core consumer prices in Japan increased 1.2 % in March compared to one year earlier. The increase was the biggest rise since a 1.8 percent hike registered in March 1998

The Euro-zone M3 money supply and the British GDP reports are expected in the upcoming hours.

The US university of Michigan consumer confidence report for April has been slated for release later in the New York morning. Copyright © 2007 RTTNews.com. All Rights Reserved.