According to reports, Syrian warplanes struck targets in the western Iraqi province of
US Secretary of State
The pound fell to nearly 2-week lows of 1.5142 against the Swiss franc and 0.8030 against the euro, from yesterday's closing quotes of 1.5171 and 0.8008, respectively. If the pound extends its downtrend, it is likely to find support around 1.50 against the franc and 0.81 against the euro.
German consumer confidence is set to improve in July, survey data from market research group GfK showed. The forward-looking consumer sentiment index rose to 8.9 in July from a revised 8.6 points in June, as economic expectations rose to a three-year high. Economists had forecast the indicator to rise to 8.6 points from June's original estimate of 8.5.
The economic expectations index rose 7.7 points to 46.2 in June. Willingness to buy gained 3.7 points to reach 53.2. Meanwhile, income expectations fell by 0.6 point to 47.2 in June.
Swiss consumption indicator rose in May, helped by strong retail sales performance, a report from financial services company UBS showed. The UBS consumption index climbed to 1.77 in May from 1.68 in April.
The pound which ended yesterday's deals at 1.6983 against the US dollar and 173.12 against the yen, weakened to a 1-week low of 1.6951 and 9-day low of 172.71, respectively. On the downside, 1.68 against the greenback and 170.75 against the yen is seen as next support level for the pound.
Looking ahead, In the
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