Sterling strengthens its gains against the US dollar and the attention on the industrial data

The pound Asian market rose Wednesday against most major currencies, strengthened its gains for the second consecutive day against the US dollar, benefiting from the weakness of the US currency's performance against the majority of currencies affected by the decline in expectations of higher interest rates, Investors are awaiting several important from London industrial data to measure the improvement in the royal economy during the fourth quarter of last year, and the dollar index is trading near its lowest level in four months within a limited range of trade, later in the markets the day awaiting the statements of (Janet Yellen) Head of The Federal reserve in search of new evidence concerning the future implementation of raising US interest rate cycle in the current year.

Sterling pound

Sterling made yesterday rose by 0.3 percent against the US dollar, in the first one-day gain in the last four dayssupport from the falling US currency to its lowest level in four months against a basket of currencies, in addition to the positive data in London showed the deficit narrowed British trade balance by 1.6 billion pounds in December.

Pair of sterling against the US dollar trading by 06:40 GMT around the level of 1.4480 from an opening price of 1.4465 after recording the highest price of 1.4483, the lowest price at 1.4455.

The pound Asian market rose Wednesday against most major currencies, strengthened its gains for the second consecutive day against the US dollar, and investors waited to important data from London later in the day to measure the manufacturing sector output, which represents about 25 percent of the strength of the economy, to measure the improvement in the British economy during the fourth quarter of last year.

By 09:30 GMT issued Manufacturing production for the month of November, it is expected to rise 0.0% from 0.4% percent drop in November, as industrial production for the same month expected to issue a decrease of 0.1% from the 0.7% decline in the previous month.

U.S. dollar

The dollar index ending trading yesterday, down by 0.7 percent, in the second daily loss in a row, to its lowest level in four months 95.67 points, reflecting the continued sale of US currency operations against a basket of major and minor currencies, by the global financial and economic risks , including reduced expectations the Federal reserve to raise US interest rates again in the near term.

Financial danger is represented by severe breakdowns in global stock markets, after disappointing results for major companies, a sharp decline in the shares of banks and financial companies affected by fears that a global economic slowdown affects the profitability and push it to default on debt.

With the growing global economy slowing recently signs and its negative impact on the US economy that began in the weakness during the fourth quarter of last year's growth path, coinciding with the continued decline in oil prices, including raising the risk of recession prices.

This week, the stakes of raising US interest rates for once, at least for this year fell to 30 percent from 93 percent in late 2015, and 53 percent on Friday.

The dollar index by at 06:44 GMT, is trading around the 96.00 level points from the opening level of 96.03 points, and recorded the highest level of 96.09 points and 95.86 points, the lowest level.

The dollar index during the Asian market on Wednesday settled within a limited range of trading, near its lowest level in four months, with the Keep an eye Certificate (Janet Yellen) Head of the Federal Reserve around the semi-annual US monetary policy report, and continue this testimony over two days before the US Congress, and talking by 15:00 GMT today before the Committee on financial services House of Representatives.

And investors through such testimony are looking for new evidence concerning the future implementation of raising US interest rate cycle in the current year, after the Council approved the first formal increase in interest rates for the first time in a decade in December last, confirmed the increase of at least four times during 2016, a target rate of 1.5 percent by the end of the year, but that the extent of linking the implementation of improved US economic indicators, shrinking global economic and financial risks.