Forex - Sterling lost 8.61% in August vs Dollar, its largest monthly drop since 1992 - Forex Forum

 
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> Forex - Sterling lost 8.61% in August vs Dollar, its largest monthly drop since 1992
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post Sep 1 2008, 1:00
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The Dollar rallied against a currency basket on Friday, posting its best monthly gain in 16 years, boosted by a batch of data showing a far more stable growth path for the United States than the rest of the world.

Sterling was in the major casualties in the currency market this month, down 8.61% versus the Dollar, its biggest drop since it crashed out of the Exchange Rate Mechanism in 1992. The Australian Dollar fell 8.75% in August, its worst month since February 1989 on expectations of narrowing interest rate differentials between the United States and Australia.

Investors will focus on next Friday's August US employment report and Central banks policy decisions in the euro zone and the UK.

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