The new sanctions will affect major Russian banks and its defense and energy companies, and also freeze the US assets and curb American business contacts for eight Russian arms companies making weapons.
The US latest sanctions expand its previous penalties, targeting two major Russian banks such as
In economic news,
The Bellwether survey showed that a net balance of 15.2% of companies raised their advertising budgets in the second quarter. This was the second highest reading in 14-year survey history and down from the survey high of 20.4% recorded in the first quarter.
Reversing from an early high of 1.7143 against the greenback, the pound slipped to a 2-day low of 1.7107. If the pound continues slide, it may find support around the 1.705 area. The pair finished yesterday's trading at 1.7134.
The pound came off from an early high of 174.26 against the yen, sliding to a 2-day low of 173.63. The pair closed Wednesday's trading at 174.20. The next possible downside target for the pound is seen at the 172.00 mark.
The pound eased to 1.5352 against the Swiss franc, from an early high of 1.5399. On the downside, the pound is likely to find support around the 1.53 region. The pair finished yesterday's trading at 1.5385.
After rising to near a 2-year high of 0.7888 against the euro in early deals, the pound eased and was trading at 0.7908. The pound may possibly find support around the 0.80 mark. At Wednesday's close, the pair was worth 0.7890.
Looking ahead, the US building permits and housing starts for June and weekly jobless claims for the week ended
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