Jun
30
US unsettles market
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It doesn’t take much to spook the markets at the moment, and even when optimism seems to be recovering, it only takes the overlapping of a few negative events to send investors scurrying for safe havens. Yesterday we got that overlap as China revised down growth in April, back to lows last seen in November, [...]
Jun
29
GBP supported by the budget
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…the UK’s viable, if painful, plan looks good in contrast with the less secure plans in the Eurozone. We have already seen the problems Greece are having trying to implement their own measures and while the new Government may face some resistance in this country, no one is in any doubt that the Government will be able to implement the measures…
Jun
28
USD weakens
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The defeat to Germany may have left England fans despondent, but the despair hasn’t affected the Pound which has managed to make some gains pushing up above 1.50 against the US Dollar… read more
Jun
21
How will the budget affect exchange rates
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The answer depends on where the widely expected cuts actually appear…read more
Jun
21
Hold your breath until tomorrows budget
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All eyes in the UK will be on tomorrow’s budget, with the Chancellor promising the pain will be spread around, and also promising that the budget will be a long term strategy covering the life of the parliament…
Jun
15
GBP/EUR and GBP/USD hold steady
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The Pound gained some support from the OBR report, and has managed to keep above 1.47 into this morning. Sterling has also managed to make some modest gains against the single currency, pushing up towards 1.21 even as the Euro itself benefited from some decent economic data…read more
Jun
14
Is it worse than we thought?
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The underlying problems have not gone away in the Eurozone so it unlikely the Euro will move significantly higher, and any gains may be short lived… read more
Jun
11
GBP/EUR improves and GBP/USD improves
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The wait is finally over, and the markets have reacted in an optimistic fashion, although that may also have a little to do with decent economic news out of China and Japan, as well as the start of the world cup… read more
Jun
10
GBP improves vs USD amidst a return of confidence
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European monetary policy will be the focus of attention today with the ECB and Bank of England due to make policy announcements. Neither are expected to alter rates, with the anaemic eurozone recovery seeing the ECB maintain its dovish stance…
Jun
9
Pound faces defecit challenge
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Fitch has said that the UK faces ‘formidable’ challenges and needs a more ambitious plan to cut the deficit, and these comments dragged the Pound down to 1.4350 against the Dollar, and towards 1.2050 against the Euro. Listening to a representative of Fitch on the radio this morning, the statement was intending to say that there needed to be a more ambitious plan for the deficit compared to the last budget in April…read more