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Although GBP is indeed looking very positive against the Euro, breaking above 1.3930 at time of writing, the USD has fought its way back to the mid 1.48’s. Sterling has undoubtedly been depressed due to the impending election/political uncertainty, perhaps we would be comfortably above 1.4000 on GBP/EUR if the…
It is one of the peculiarities of the FX market that what we term ‘good’ for the Pound is often not good for us individuals from a financial point of view. Inflation is one such example that is good for the Pound and not for our pockets. Therefore, individually speaking,…
Yet again the Euro weakened yesterday, reaching 1.4250 versus GBP, however it spent the afternoon fighting back and even broke back below 1.4100 early this morning. This volatility is a direct measure of the level of uncertainty around the currency. As far as the Euro is concerned the market seems…
Today in 1876 Alexander Graham Bell made the world’s first phone call – Greece may well be making their last before the phone lines get cut off due to unpaid bills. As tenuous as the link between Graham Bell and Greece is, the point is that no one knows when…
I am not entirely sure I can justify the title but there is no harm in being positive! It is no surprise that the week begins with EUR on the back foot, again. The Greek issue rumbles on and given the the lack of direction in the talks, this may…
Yesterday saw GBP spike against EUR at a new seven year high. This was off the back of Bank of England minutes showing a 9-0 vote in favour of unchanged policy (there was expectation for 1 or 2 votes for potential cuts given the recent inflation figures). This, of course,…
The Swiss National Bank (SNB) has made a surprise announcement that they have removed their cap on EUR/CHF at 1.20. The fallout saw huge price movements across the board with EUR/CHF shift from 1.20 to 0.8820 in less than 10 minutes – that is a 26.5% move! The fall out…
Yesterday offered a brief respite in the march of the US Dollar as weaker than expected US retail sales were announced. Lower energy prices failed to feed through into increases in expenditure elsewhere, and indeed lower gas prices failed to spur any further growth in auto sales. GBP/USD starts today…
Yesterday the US dollar strengthened broadly as data showed that the U.S. economy grew faster than expected in the last quarter, despite the disappointing durable goods reports. Similar GDP data showed the economy in the UK grew by 0.7% in the third quarter period from the previous quarter, in line…
For today, some interest with the second round presidential vote in Greece. The first round saw 160 of the required 180 votes for the PM’s favoured candidate. This could well go to three rounds, and if the required number of votes is not secured snap elections will ensue. This the…