Pound at 7-Week Low
World Economy

Pound at 7-Week Low

The pound fell to a near-seven week low as Britain’s powerhouse service sector suffered a slowdown amid cautious consumer spending and a steep rise in costs linked to sterling’s collapse, Yahoo reported. The closely watched PMI survey put together by Markit fell to 53.3 in February, down from 54.5 in January, and below economists’ forecasts of 54.1. A reading above 50 indicates growth. It marked the slowest rate of expansion since September last year and caught currency markets by surprise. The pound fell to a near-seven week low against the US dollar to trade at $1.222, and dropped 0.6% versus the euro to a near-one month low of €1.160.


Short URL : https://goo.gl/6V5y82
  1. https://goo.gl/C56j6G
  • https://goo.gl/BjvqDL
  • https://goo.gl/WQtVt6
  • https://goo.gl/X7owI9
  • https://goo.gl/MmBuU5

You can also read ...

Both, Russia and China, have intensified efforts in recent years to settle bilateral trade not in US dollars, but in rubles and yuan. Gold is considered important by both countries.
The issue of when a global reserve currency begins or ends is...
Norway’s Sovereign Wealth Fund  Hits $1 Trillion
The Norwegian sovereign wealth fund, the largest in the world...
Janet Yellen
As the Fed starts unwinding the stimulus it provided to snap...
London, Frankfurt and Paris fluttered between flat to slightly lower after eight days of gains.
Record-high world stocks paused on Tuesday and the dollar...
Kazakh Economy Grows by 4.3%
The economic growth in Kazakhstan was at 4.3% since the...
Ukraine Raises $3b in First Bond issue
Ukraine has raised $3 billion in its first sovereign bond...
Dutch Economy Doing Fine
The Dutch economic machine is roaring, government or not. As...
The IMF could write off its debt and lighten Greece’s burden.
“Beware of Greeks bearing gifts,” wrote the ancient Roman poet...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.