Dollar buoyant ahead of Fed meeting
The dollar continued to enjoy a positive performance ahead of the Federal Reserve meeting tomorrow, while the pound is awaiting a busy week in the corporate sector.
A short time ago the dollar stood at 1.76580 against the pound while the euro was at 1.46120 to sterling.
Indications of an economic upturn have bolstered the dollar, as manufacturing data showed a strong level of activity in the sector.
However, all eyes are on the Fed meeting tomorrow, with many predicting a further hike in interest rates, potentially up to 4.75 per cent.
The ECB will also meet this week, with its monthly meeting on the interest rate scheduled for February 2nd.
A busy corporate week in the UK begins with Fiat publishing its 2005 fourth quarter results and 2005 full year results today.
Later this week the stock exchange is expecting announcements from food, technology and manufacturing firm Stork, satellite television giant BSkyB and oil company Shell.