Corporate foreign exchange news
Sterling strengthens against foreign currency
Tuesday, 12 January 2010 09:42:31 GMT

Sterling gained strength in foreign currency exchange trading yesterday, but is unlikely to make vast improvements due to concerns over national debt.Published by Zeb BhamThe pound made headway against the US dollar on Monday (January 11th), following the release of weak jobs data from the US late last week.However, in foreign currency exchange trading against the euro, sterling remained stable, Reuters reports.Ongoing economic and political concerns in Britain have kept up the pressure on the pound in recent months and there is little sign of a change in this situation.Figures detailing retail sales in the UK due out this week may offer some clues as to the state of the country's economy, the news agency notes.Pressure has remained strong on the dollar as well, as weak payroll data and comments suggesting that interest rates may remain low for some time took their toll on traders' positions in foreign currency exchange markets.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site

