Sterling at 20 Month Low Against Dollar, Miliband Comments See Centrica Slump
March 13, 2015 12:09 pm
Asian shares put in a mixed performance across the region on Friday but were underpinned by gains on Wall Street, while the Dollar resumed its recent rally after a downward blip on disappointing U.S. retail sales data. U.S. stocks closed up on Thursday, bouncing back from two days of losses, helped by a weaker Dollar and a rally in banking shares. The Dow climbed 258 points to close at 17,894, The S&P500 gained 25 points to close at 2,065.
Against the Yen, the Dollar slipped to 121.34, pulling away from a near eight-year high of 122.04. It also lost ground against the Euro, which popped up to $1.0613, from a 12-year trough of $1.0494. The common currency was still poised to drop more than 2% this week. The Greenback also eased against commodity currencies such as the Australian Dollar, which climbed to around 77 U.S. Cents from a six-year low of $0.7561 set on Wednesday. The Pound plumbed a 20-month low of $1.4850 and was last trading at $1.4871.
U.S. crude edged up about 0.3% to $47.17 a barrel after plunging 2.3% in the previous session, while Brent edged slightly higher to $57.09 after shedding nearly 1%
Opposition and Labour party leader Ed Miliband will reiterate his plans to empower the energy regulator to force utility companies to cut bills in line with falling energy prices if he wins May’s general election, according to British media. This caused Centrica to fall to the bottom of the FTSE100 in early trade. The stock is down 2% at 236p per share.
Asian shares put in a mixed performance across the region on Friday but were underpinned by gains on Wall Street, while the Dollar resumed its recent rally after a downward blip on disappointing U.S. retail sales data. U.S. stocks closed up on Thursday, bouncing back from two days of losses, helped by a weaker Dollar and a rally in banking shares. The Dow climbed 258 points to close at 17,894, The S&P500 gained 25 points to close at 2,065.
Against the Yen, the Dollar slipped to 121.34, pulling away from a near eight-year high of 122.04. It also lost ground against the Euro, which popped up to $1.0613, from a 12-year trough of $1.0494. The common currency was still poised to drop more than 2% this week. The Greenback also eased against commodity currencies such as the Australian Dollar, which climbed to around 77 U.S. Cents from a six-year low of $0.7561 set on Wednesday. The Pound plumbed a 20-month low of $1.4850 and was last trading at $1.4871.
U.S. crude edged up about 0.3% to $47.17 a barrel after plunging 2.3% in the previous session, while Brent edged slightly higher to $57.09 after shedding nearly 1%
Opposition and Labour party leader Ed Miliband will reiterate his plans to empower the energy regulator to force utility companies to cut bills in line with falling energy prices if he wins May’s general election, according to British media. This caused Centrica to fall to the bottom of the FTSE100 in early trade. The stock is down 2% at 236p per share.
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