MONEYFOREX - Pound Remains Varied Against Rivals

Pound Remains Varied Against Rivals

Friday, February 02, 2007 2:42:40 PM - The pound was varied against its major rivals in trading on Friday. The currency moved little against the dollar, while climbing against the euro and yen. The cable moved on little economic news from the UK.

The pound saw choppy movement against the dollar during trading on Friday. The pound hit a high of 1.9735 and a low of 1.9640. The sterling remains in a month and a half trading range against the greenback.

The sterling pushed sideways against the euro overnight into the morning. However, the pound rose to a level of 0.6590 in the afternoon. The cable has gained back some of its losses against the euro over the past few days, moving near a two week low.

The pound saw similar movement against the yen. While moving little overnight into Friday, the sterling climbed to a mark of 238.22 in the early morning hours. As the afternoon progressed, the pound gave back a portion of its gains. The cable has reversed losses from the past two days against the yen, and remains within a two-week range.