Currency report
In the absence of any new major factors the U.S. dollar eased in a week of quiet and featureless trading to close silghtly firmer, according to the weekly foreign exchange report from the Bank of New South Wales.
Profit taking and some Central Bank intervention to stem the dollar’s rise continued, but movements in rates were narrow.
Sterling firmed in the wake of the United Kingdom Chancellor of the Exchequer’s Parliamentary statement that there will be public spending cuts in his forthcoming Budget, which triggered a buying flurry in sterling towards the end of the week. The Canadian dollar moved firmer after reports that the incoming Prime Minister (Mr Clark) plans to implement his full economic policy despite failing to gain an over-all majority in the general election.
The Japanese yen and the DM traded within a narrow range while oil prices and shortages, continue to provide a background to the market.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19790528.2.138
Bibliographic details
Press, 28 May 1979, Page 18
Word Count
154Currency report Press, 28 May 1979, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in