Feb
17
King opens his mouth and GBP falls
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Having subtly hinted in his letter to the chancellor on Tuesday that rate increases this year are very much on the horizon as the market expects, Mervin King spent yesterday’s Quarterly Inflation Report news conference largely unwinding this expectation, again reverting to the more dovish line he has toed consistently for the last two years. [...]
Dec
7
USD falls slightly, is EUR poised for another fall?
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The Euro appears to have found temporary reprieve over the last few days against the Dollar…read more
Aug
19
Early morning good news for GBP
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With the decent news out for the UK this morning we should see a bit of a rally in the pound and hopefully reverse the losses from earlier in the week. With only the US jobless claims this afternoon it could prove to be a bit more of a positive day for the proud pound… read more
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
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
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