Sterling against the Dollar Tag Archive

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    UK inflation got a brief respite last month as it fell from 2.2% in October to 2.1% in November as drops in transportation costs and the cost of certain food stuffs took effect. However this drop is expected to be short lived with inflation expected to rise again in December as increases in energy prices start to filter through.

    On top of this the British Chambers of Commerce expects the UK economy to pass its pre-recession peaks towards the end of 2014.

    This news helped the Pound rebounded after 3 consecutive falls against the US dollar seeing the Pound fall from $1.65 to %1.626, but Monday saw it climb back to $1.63. This swing could be reversed if the US FED makes a decision on its monetary policy later this week.

    The Euro gained against the Pound as stronger than expected business activity in the Eurozone.

    Meanwhile down under the Australian economy continues to stutter as the latest forecasts show their deficit continues to grow, while the government has cut interest rates to encourage growth as their growth forecasts are cut from 3% to 2.5%

     

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