Surprised Sterling is spreading its Magic!!!

Sterling is moving forward with its gains. Last week’s surprise hike in the interest rates made the sterling not to look back, its just moving in a very positive way. A Financial Analyst at Capital Economics said the rising trend in output price inflation supported the Bank of England’s view that companies were widening their margins in order to recover the profits lost to rising energy prices last year. The rising trend in price inflation is helping the Bank of England to recoup its industrial losses. By mid-afternoon in New York yesterday, the pound climbed 0.2% against the Euro and 0.5% against the Yen and also 0.3% against the dollar.

Is the U.S dollar feeble?

The U.S dollar is again reverting to its earlier position by slithering. Yesterday, the European Euro gained 0.2% against the dollar. But it is expected that since yesterday was Martin Luther King holiday, the trade in the U.S market was thin. It may be anticipated that today the U.S dollar may play the game safe with some profits at its back. In the meantime, the Japanese Yen fell against the Euro. And it also fell against the U.S dollar making it a nearly thirteen-month low. The U.S dollar is not weak, it’s strong and it will be in the leading position but needs some serious time.

Let’s all hope for the betterment of every country and every currency!!!