Posts Tagged ‘EUR’
Currency Articles - November 10, 2010 18:59
The BoE inflation report led to a significant Sterling rally accross the board due Hawkish comments stating that consumer prices are around target in the medium term. The report went on to say that there was a high probability that the BoE Chancellor Mervyn King would have to write an inflation letter to the Chancellor […]
Sterling has continued to outperform most of its rivals in trading today, the notable exception is the USD, which now appears to be gaining some form of momentum for a reversal on cable and the EUR/USD pair. This can be attributed to todayâ€™s durable goods orders in the worldâ€™s largest economy jumping 3.3% in September […]
Today opened with a big surprise for the UK economy, the preliminary Q3 GDP figures released at 0930 this morning indicated that the economic slow down is not as poor as previously thought. The market expectation was that the figure would be announced at 0.4%, it was actually released at 0.8%, giving Sterling a much […]
The pound has slumped to a daily low of 1.1226 against the Euro. This break through technical resistance could see further declines from here towards the next level of support between 1.10 and 1.0950. It is remarkable how quickly the Euro has strengthened against both the pound and the USD and it looks set to […]
Today as expected has seen a decline in the pound against all of the majors. The Bank of Englands minutes have shown a three way split in policy, with Andrew Sentance voting for a rate hike and Adam Posen voting for more QE. The other MPC members are all still at present sitting on the […]
Today we have seen some respite for the USD. The Dollar has made gains against most currencies today as US Treasury Secretary, Timothy Geithner has said that the US will work to preserve confidence in a strong currency and will not work to devalue their currency.
Sterling has suffered today, the austerity measures set to be announced on Wednesday were always going to see selling pressure on the pound return to the markets. There is a saying in the markets that goes ‘sell fear’ and ‘buy fact’. This is not of course always the case.