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
Jul
13
Negative ne
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The Pound stayed roughly range bound yesterday as news that Standard & Poor were keeping their negative watch on the UK’s AAA credit rating, was later countermanded by a stock market recovery…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
Jun
2
GBP/EUR up to 1.20 but is it fundementals that have taken it there?
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it may be that the large amount of currency moving through the markets has distorted the price somewhat and it may fall back to a more orderly pace, however the Pound has continued to edge upwards, albeit much more sedately and currently sits around 1.20, and 1.47 against the Euro and the Dollar respectively…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
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
May
25
EUR slides
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Concerns in the Eurozone were once again the order of the day for equity and currency markets throughout yesterday, and have continued as such early today. The euro came under renewed attack on Monday as concerns over Europe’s fiscal problems intensified after Spain’s central bank took control of a savings bank…
May
21
GBP down against EUR but up vs AUD and NZD
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It was another day of turmoil in the markets yesterday as fears over the drag on global growth from the struggling Eurozone nations, and the seemingly ad hoc way that financial regulation is being introduced, has caused panic…read more