The pound also climbed versus low-interest rate currencies as investors switched into higher-yielding assets. The pound was supported, and government bonds weakened, after the Office for National Statistics said today investment in equipment, vehicles and buildings rose 1.8 percent in the fourth quarter of 2007.
TECHNICAL FOR THE DAY( POUND)
Pound is expected to trade in the range of 2.001-2.015.With key support seen at 1.9990 and resistance for the same is seen at 2.020 .Currency is expected to give a upward movement for the day which is confirmed by the crossover of fast and slow moving averages. Relative Market Strength index and stochastic are in neutral territory remains silent on the issue
Pound is expected to trade in the range of 2.001-2.015.With key support seen at 1.9990 and resistance for the same is seen at 2.020 .Currency is expected to give a upward movement for the day which is confirmed by the crossover of fast and slow moving averages. Relative Market Strength index and stochastic are in neutral territory remains silent on the issue
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