Currency Articles
Currency Articles - October 13, 2014 9:26
Concerns Over Economy Sees Mixed Sentiment On Pound
The Pound briefly advanced back above the 1.27 level against the Euro as concerns over the faltering Eurozone economy weighed heavily upon the single currency. Sterling is likely to see mixed trading as worries over a slowdown in the UK economy weigh. With a lack of market moving domestic data and with the US and […]
Dollar Holds Strong Against Euro and Pound
The Pound retreated against a number of major peers after UK Business Secretary Vince Cable and the International Monetary Fund both said that the currency is overvalued by 10%-15%. The comments add to those made last week by Bank of England Deputy Governor Ben Broadbent. Sterling could regain some ground if Tuesday’s Manufacturing Production and […]
Pound and Euro Cave In To Pressure
The Pound remained under pressure against the US Dollar for a seventh day in a row after Bank of England policy maker Ben Broadbent said that the UK’s economic recovery may not be strong enough to justify an interest rate increase. Sterling could see further movement if the session’s latest Markit/CIPS Services PMI data comes […]
Chaos Surrounds The Pound
The Pound was holding onto Thursday’s gains after another opinion poll showed the Pro-UK No campaign in the lead ahead of next week’s Scottish Referendum. Comments made by Royal Bank of Scotland indicating that it would move operations into England in the event of a Yes vote were also deemed as a positive as traders […]
Pound Falls Strongly After UK Interest Rates Unchanged
The Pound surged back above the 1.26 level against the Euro on Thursday due to the European Central Bank’s (ECB) surprise decision to cut interest rates to a new record low of 0.05%. Against the US Dollar, the UK currency declined to its lowest level since November last year. With no UK centric data due […]
Ukraine Tensions Ease And Dollar Gains
The Pound softened against the US Dollar but was holding ground against other major peers after a report released by the British Retail Consortium showed that the value of UK food sales tumbled by its biggest margin in more than five years in the three months leading up to July. Sales are forecast to show […]
Could The Pounds Run Be Over?
The Pound softened against its major peers and looks set to continue that trend over the coming days as hedge funds and speculators reduced their expectations for the currency to make further gains by 28,915 contracts, the biggest fall in a year. With no domestic market-moving data due out today Sterling will be at the […]
Inflation Rises But Unemployment Unchanged
The Pound made solid gains against the Euro and most other major peers on Tuesday after data showed that inflation in the UK increased more-than-expected last month to 1.9%, just off of the Bank of England’s target of 2%. Against the US Dollar the Pound briefly touched a new six-year high before easing later in […]
GBP Rate: Declines on Manufacturing Data
Although economists had hoped that UK Manufacturing Production and Industrial Production advanced by 0.4% and 0.3% in May respectively, both levels of output actually dropped. The unexpected 0.7% and 1.3% month-on-month losses weren’t well received by investors and the Pound posted widespread declines shortly after the data was published. The National Institute of Economic and […]
Non Farm Payrolls Set To Disrupt Currencies
The Pound softened away from yesterday’s new multi-year highs against the Euro and US Dollar at the start of the session as investors looked ahead to today’s ECB policy meeting and the publication of the latest US non-farm payrolls data. Sterling is likely to push higher in the morning if today’s Markit/CIPS UK Services PMI […]
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