Apr
15
Solid news for UK economy but GBP/EUR still low
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The Euro is subdued against the dollar and sterling this morning as the sovereign debt crisis again raises its head. Yesterday the German finance minister admitted that Greek debt may need to be restructured, despite last year’s £97bn bail out. The reason for this restructuring is that the Greek government must now pay 13% interest [...]
Dec
13
Big week (hopefully not weak) for GBP
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The pound looks set for an important week this week with inflation, unemployment and retail sales data due out, even as it continues to do fairly well against the single currency… read more
Oct
5
USD weakens
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As a summation of last week however, the US Dollar weakened against all of the major currencies on Friday…read more
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
Sep
22
Exchange rate opportunities for Importers and Exporters
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Not to be considered advice but maybe food for thought…
Aug
16
Euro down and Dollar up
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Risk remains very much the driving force for FX markets as they fret about the extent of slowdown in the US economic recovery and the state of the global economy. Concerns about Eurozone peripheral economies have also intensified again, putting additional pressures on the euro and preventing it from benefiting from Friday’s news of stronger than expected Q2 GDP growth. As result we have the weaker EUR and stronger USD.
Jul
26
Things are looking up for the UK and for GBP
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On friday the one release which did make the markets take note was the surprising uplift in UK GDP, surging past the expected 0.6% QonQ increase to 1.1%, catching many by surpirse. There were several mitigating factors for this…read more
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
May
27
GBP up as panic subsides
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For now the Pound seems to be holding onto it’s gains from the OECD optimism, and it is likely to manage to hold onto them throughout today…read more