CURRENCY REPORT
Following is the diary kept for last week by the London foreign exchange department of the Bank of New South Wales:— August 18: The U.S. dollar based against the D-mark; sterling based against the U.S. dollar as the Bank of England intervened to stem moderate demand. August 19: The U.S. dollar held steady against the major currencies. Sterling was unchanged as the Bank of England intervened, buying both U.S. dollars and sterling. August 22: The U.S. dollari strengthened marginally! against most currencies in only moderate trading. The Bank of England intervened' to stem a rise in sterling. ; August 23: The U.S. dollar based against most currencies because of market apprehension over U.S. trade figures due on Thursday. Sterling remained unchanged in quiet trading. August 24: The U.S. dollar slipped against most currencies in active trading, as the market expects a record U.S. July trade deficit. The I Bank of England sterling ■ index eased to 61.9, com- ‘ pared to 62.0 on Tuesday.
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Press, 29 August 1977, Page 22
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163CURRENCY REPORT Press, 29 August 1977, Page 22
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