The British pound on Thursday escalated to a seven-year high versus the euro, as interest rate speculations moved further, favoring British assets, days before the European Central Bank commenced a large asset-buying spree.
Earlier, Sterling gained support from stable economic growth in the United Kingdom even though a decline in business investment made certain investors wary before May’s general election.
Figures released Thursday showed companies’ investments dropped at their sharpest rate in almost six years in the 4th quarter of 2014, affected by lower investment in the petroleum sector as global oil prices
Gross domestic product in Britain improved by 0.5% in the 4th quarter, slowing from 0.7% in the 3rd quarter.
Against the euro, the pound traded at 72.705, its lowest since December. It also traded at $1.5409 per US dollar.
The material has been provided by InstaForex Company – www.instaforex.com
The British pound on Thursday escalated to a seven-year high versus the euro, as interest rate speculations moved further, favoring British assets, days before the European Central Bank commenced a large asset-buying spree.
Earlier, Sterling gained support from stable economic growth in the United Kingdom even though a decline in business investment made certain investors wary before May’s general election.
Figures released Thursday showed companies’ investments dropped at their sharpest rate in almost six years in the 4th quarter of 2014, affected by lower investment in the petroleum sector as global oil prices
Gross domestic product in Britain improved by 0.5% in the 4th quarter, slowing from 0.7% in the 3rd quarter.
Against the euro, the pound traded at 72.705, its lowest since December. It also traded at $1.5409 per US dollar.
The material has been provided by InstaForex Company – www.instaforex.com
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