Posts Tagged ‘GBP. USD’
Currency Articles - October 25, 2010 17:24
All eyes are focused on GDP for the US and the UK this week. We have (Q3) Preliminary GDP from the UK tomorrow morning with the figure forecasted at just 0.4%. If this is the case, this represents a significant slowing in the economic recovery and will weigh on the pound with concern over additional […]
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.
Today we have seen another day of continuation of trend. There is clear resistance in the market halting a GBP/USD break through 1.60 and EUR/USD at the psychological level of 1.40. The global stock markets have rallied 1% in the US and 1.7% in the UK.