Exchange rates today: the pound and the euro have pressured dollar

Exchange rate today is under the sign of the European Renaissance

In brief: Dollar declines against the unexpected growth of European currencies. The euro and the pound began to grow rapidly.

Euro and the pound rose on the European trading session on Friday, despite concerns about the level of debt in European countries. The single currency reached a mark of 1.2395 against the dollar compared with 1.2388 at the close on Thursday. Pound strengthened to 1.4872 to 1.4825. “The week opened with the failure of news from Europe, but then Spain has pleased the successful auction of bonds, which helped to improve the situation”, – analysts said Barclays Capital.

“Euro / dollar rate is still in limbo,” – said in Commerzbank. “However, it is now clear that the rumors that Spain was prepared to seek additional financial assistance were unfounded.” Meanwhile, the pound also strengthened on Friday after data on lending in May. Public debt in the country amounted to 16 billion pounds (19.2 billion euros or 23.8 billion dollars). Official data published on the eve of announcement of new measures to reduce the budget deficit. Pound / dollar adjusted down to the area of support at 1.4782, stopped near the lows set on Thursday at the New York session – 1.4774. Traders said that if the couple can break above 1.4800, it waits for the resistance of 1.4820/25. Then perhaps move to 1.4850 and 1.4860/65. The strongest interest in selling in an area of 1.4890/1.4910.

Ukrainian Globalist
2010-06-18 15:20, Currency news.

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