The British currency spiked up further against major opponents during New York trading on Wednesday. The pound climbed to a new multi-day high against the Swiss franc during this period.
Extending previous session's uptrend, the pound ticked up further against the Swiss franc in New York mid-day trading today. As of now, the pound is trading near new multi-day high of 1.6550 versus the franc, compared to yesterday's levels of 1.6327.
The Swiss SVME Purchasing Managers' Index or PMI stagnated at a record low of 32.6 in March, a report from Credit Suisse said today. Economists had expected the reading to rise to 33 in March. The index has not posted a further fall for the first time in 15 months.
The pound gained against the euro and the U.S .dollar during New York morning and hit highs of 0.9158 and 1.4434, respectively. Currently, the British currency is worth 1.4412 against the greenback and 0.9173 versus the euro, which may be compared to yesterday's values of 1.4325 and 0.9254, respectively.
Wednesday morning, the U.S. National Association of Realtors released its report on pending home sales in the month of February. NAR said its index of pending home sales rose 2.1 percent to 82.1 in February from a reading of 80.4 in January.
Earlier, Automatic Data Processing's monthly report showed that non-farm private employment fell by 742,000 jobs in March following a revised decrease of 706,000 jobs in February. Economists had expected a decrease of 663,000 jobs compared to the decrease of 697,000 jobs originally reported for the previous month.
The Eurostat reported today that the jobless rate stood at 8.5% in February, the highest since May 2006, compared with January's revised 8.3%. The jobless rate stood above the expected 8.3% and the 7.2% recorded in February 2008.
Against the Japanese yen, the pound also showed strength and climbed to new multi-day high of 142.88 at about 5:55 am ET.
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