Pound Generally

Friday, March 21, 2008 3:05:13 PM - The British pound saw little change on Friday in New York after seeing mixed results earlier in the week. Markets in Europe and North America are closed today in observance of Good Friday. Early next week, pound traders will watch for Rightmove House prices data for the month of March.
The pound traded near a weekly high against the euro on Friday. The pair moved at 0.7790 in the afternoon in New York. The pound has seen strength throughout much of the week against its European counterpart. Traders considered data showing French household consumption expenditure on manufactured goods increased 1.2% month-on-month in February, reversing a revised fall of 1.3% in January.
The pound was level with the greenback after hitting a two-week low in the middle of the week. The pair moved at 1.9812 in the mid-afternoon. Earlier in the week, the pound traded as high as $2.0272 against the dollar, but fell back after the U.S. Federal Reserve cut its interest rates by 75 basis points.
In other trading, the pound moved at 196.93 against the yen and 1.9980 against the Swiss franc.