Swiss franc

US dollar weakens against other currencies during morning Thursday trades, reaching a 13-day low against pound

Early morning Thursday trading sessions showed weakening of the US dollar against European, British and Swiss currencies. Declining, the dollar reached its almost two-week lowest against the pound of sterling. And the earlier session’s gains of dollar against the yen in the Asian market were pared.

Dow Jones closed at the level of p. 168.79, equal to 2.1%, while Nasdaq was closed at 2.3%, or p. 38.13, which means that Nasdaq closing was at the best level in about six months, while Dow Jones closed at a two-months highest level. The S&P was closed at the highest level in three months.

The unexpected growth of the British pound

The growth of the retail sales volume in the UK increased expectations concerning interest rates growth and thus increased the British currency too. According to the data provided by the Office of National Statistics the retail sales reached the highest level throughout the May increasing monthly by 3.5 percent. Such growth was quite unexpected as the forecasts provided by the experts supposed only stable volume of retail sales (with 4.2 percent annual growth) not growing one (8.1 percent annual growth).

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