Jan
12
AUD worst performer as floods hit
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An easing of Eurozone sovereign debt tensions and a positive start to the US earnings season provided a more supportive environment for risky assets, although the mood in the markets remained fragile ahead of a series of key events. The latest eruption of Eurozone concerns, on speculation that Portugal would follow Greece and Ireland with [...]
Sep
24
GBP finds some strength
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After a very poor start to the week, sterling has finally found some support which looks like it comes from weakness in the other currencies rather than actual pound strength … read more
Aug
24
USD strengthens as global sentiment sours
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After recent weakness against many of the majors, the Dollar is finally back in vogue it seems, at least looking at its performance over last week and into this week. New and fresh synonyms for ‘risk aversion’ and ‘risk appetite’ are becoming increasingly difficult to fabricate… read more
Aug
18
Sitting on the fence until the Bank of England minutes
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For Sterling, the major event was inflation figures release. Yesterday’s data showed the UK CPI rate edging lower to 3.1% in July from 3.2% in June…read more
Jul
21
GBP shows some signs of recovery versus EUR
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BP have just managed to get one PR disaster under control in the Gulf of Mexico, as another pops up with the Americans trying to implicate them in the release of the very resilient Ablesbaset al-Megrahi. America seem intent on pinning all their ills on BP…
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
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
Jun
8
The Pound is likely to keep hold of most of it’s gains
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The markets seemed to like David Cameron’s tough talk on the plans for spending cuts, after first outlining the just how bad the public finances were, he warned that the spending cuts would change our way of life. The tough talk will be put to the test after the budget in 14 days time … read more
Jun
1
EUR falls further
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It’s been an eventful long weekend, with Spain’s credit downgrading, the first (but no doubt not the last) resignation from the coalition government…read more
Apr
23
GBP down, and then up and then…
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The main news in the mainstream media is the fallout from yesterday’s debate, and with the popularity of shows like Dancing on Ice, X-factor and Britain’s got Talent, it’s perhaps not a surprise that everyone talks about the debate as a talent show, judging the leaders on performance rather than on policy as well as talking about who ‘won’ the debate.