Tuesday, July 17, 2007
The dollar slid to a 26-year low against sterling on Wednesday due to uncertainties about the U.S. subprime mortgage sector and after British inflation data boosted hope for higher interest rates there.Sterling rose as high as $2.0492 , receiving a boost after data on Tuesday showed that the annual core consumer price index in Britain rose to a decade-high 2.0 percent in June.
The data bolstered expectations that interest rates in Britain -- already the uppermost among Group of Seven industrialised nations at 5.75 percent -- could climb beyond 6 percent by the end of the year. The dollar slipped to 122.05 yen
posted by stifxonline
@ 10:35 PM
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