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- American focus: the euro and the pound stabilized
American focus: the euro and the pound stabilized
Against the background of the empty economic calendar in the U.S. session, the euro and the pound stabilized.
Earlier, the euro managed to show modest gains against the dollar, thus responding to the comments Bundesbank. The German central bank said it expected normalization of economic growth in the second half of this year. There were also marked reduction in expectations of inflationary pressures in the coming months and added that "the ECB's low interest rates continue to support the recovery in the years 2013-2014."
The limiting factor for the single currency was data from the Bank of Spain, which recorded a growth in the share of problem loans of Spanish banks to a new historical high of 11.6% in June from May's value at the level of 11.2%.
Pound was able to update the August highs against the U.S. dollar, but to develop a pair of upward movement failed and retreated somewhat. Positive impact on the dynamics of the pound rise projections for the growth of the British economy by the Confederation of British Industry (CBI). CBI, which represents the interests of about 240,000 businesses expect growth in the current year the British economy will be 1.2% versus 1.0% previously expected. Forecast for 2014 also increased: from 2.0% to 2.3%.
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