The US dollar proved its current resilience by enjoying yet another day of strong gains despite a lack of any real economic data. Sterling remained close to two month lows against the greenback while the Euro remains under fire.

Sterling

Government borrowing rose to a record £20.315 billion in November however the end number was still a great deal lower than the £23 billion analysts had forecast. Credits to the government's coffers were less than hoped for in November. PSNC saw an influx of £14.671 billion almost £3 billion less than the £17.5 billion markets had forecast. The news saw the pound fall back against most currencies but flat trading ensured the losses were minimal.

US Dollar

The dollar surged ahead of its major trading rivals. Once more, the winning combination of renewed optimism towards the US economy and the dollar's position as safe haven currency of choice allowed the greenback to post more gains.

Euro

German producer prices matched market predictions with monthly prices rising by 0.1 per cent and annual figures showing a fall of -5.9 per cent. Germany's IFO business climate, current conditions and expectations surveys all saw slight improvements but France's business climate reading was below expectations. The eurozone's current account saw a deficit of -€3.9 billion but the sector's trade balance saw a jump of 8.8 billion against predictions of a more modest 5.8 per cent rise. The net effect, enhanced by a day of flat trading, was each aspect of data cancelling the others out

Japanese Yen

Data for Japan saw both imports and exports for the world's second largest economy falling. Japan's trade balance for November saw an increase of 373.9 billion yen against market forecasts of 344.5 billion yen.