Next to the Japanese Yen, the British pound performed the best against the US dollar today.
After a 10 year rule under Tony Blair, UK citizens and global investors are excited to welcome in a brand new Prime Minister. Gordon Brown, the new man on the job has frequently been credited for navigating the economy through its longest period of growth in the past two centuries. His tenure as Chancellor of the Exchequer has earned him respect from around the world. This sentiment has allowed the market to shrug off weaker economic data. The CBI retail sales index tumbled from 31 to 17 in the month of June, well below the market?s 25 forecast. Although cold weather has played a primary role in slowing sales, the drop in spending suggests that we could see deterioration in consumer confidence on Friday.