Corporate foreign exchange news

Published by Zeb BhamThe pound was trading at a five-month high against the dollar this morning (July 27th), supported by stronger economic data from the US and a more lenient approach to risk.A move into riskier currencies came yesterday after the US Commerce Department announced a 24 per cent jump in home purchases between May and June, far outstripping analysts' estimates.The announcement established a bullish trend among forex traders, while commodities and equities also moved higher yesterday and continued to rally this morning.If the US continues to produce strong economic data, there could be some impressive rallies this week, as forex brokers are awaiting a number of high-impact reports.Later today the details of the latest consumer confidence index will be published, while on Wednesday traders will await monthly core durable goods orders data.Thursday will be a busy day for both the dollar and the pound as the Nationwide house price index is released in the UK and unemployment claims figures are published in the US.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.