11th December 2013
The British pound has declined in forex trading markets today (December 11th), weakening against both the dollar and the yen.
This is despite the fact investors continue to speculate the Federal Reserve may look to reduce its monetary stimulus before the end of the year, following recent strong US economic data.
In addition, Congress leaders in the country have reached a two-year agreement on a federal budget, thus avoiding a repeat of the 16-day government shutdown at the start of October. However, a deal must still be negotiated to raise the US debt ceiling to avert a potential default in February 2014.
Sterling's weakness has come after solid data reports led to suggestions the Bank of England may be required to lift interest rates earlier than previously anticipated.
As of 10:45 GMT, the pound was 0.3 per cent lower against the greenback at $1.6395, while the currency had also lost 0.29 per cent versus the euro, dropping to €1.1916.
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