Corporate foreign exchange news

Sterling down versus dollar in foreign exchange markets

Thursday, 25 August 2011 09:00:21 GMT

Published by Jamie Jemmeson
Sterling slipped to $1.6411 in foreign exchange trading yesterday (August 25th), a decline of 0.5 per cent on the previous day.
According to Reuters, uncertainty is likely to remain for investors ahead of Ben Bernanke, president of the US Federal Reserve's, speech at Jackson Hole, Wyoming tomorrow.
It is believed that he may use the session to unveil a financial stimulus package to boost the nation's economy.
Commenting on this situation, RBC head of global currencies Adam Cole suggested he believes it is more likely that Bernanke will "at most set out the options available to the Fed, rather than giving any hint they will take any of those options".
He added that some analysts have been "getting ahead of themselves" with expectations that new measures will be introduced.
Earlier this week, global head of foreign exchange strategy at Royal Bank of Scotland in Stamford, Connecticut, Robert Sinche told the Wall Street Journal that "collateral and funding issues" were weighing down on the euro.
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