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The Pound was boosted by the Bank of England (BoE) monetary policy statement yesterday. The BoE opted to maintain interest rates at its existing record low, but its suggestion that the recent market turmoil in China will not affect the UK’s budgetary policy path should help Sterling moving forward. The…
Trading was restrained yesterday due to the closure of U.S. markets for Labour Day. The US dollar lost ground to the Japanese Yen as Japanese and Chinese shares declined and dented risk appetite. This reversed nearly all earlier gains as Asian equities stumbled and put the safe-haven Japanese Yen in favour…
German unemployment data, released yesterday came in below par, but that was not enough to stop the single currency’s gains against Sterling for the morning session, but these slight gains all but receded by the close of play. Meanwhile, the Greenback strengthened versus Sterling yesterday as Investors still have confidence…
Whilst we spent yesterday under an umbrella the Euro recovered all the ground gained by Sterling by Friday’s close. Last Wednesday’s comments by the ECB’s Praet that the ECB could expand or extend QE if necessary as inflation was forecast to average at 0.3% for 2015 might almost have been…
Sterling fell vs the US Dollar yesterday as better than expected US data triggered selling pressure on GBP/USD. Yesterday’s encouraging US Durable Goods Data and far stronger than anticipated US Gross Domestic Product data has seemingly hastened the timing of the next Federal Reserve interest rate hike. Analysts had been…
Sterling struggled yesterday versus the US Dollar as investors retrieved their collective nerve. The UK continued to be weighed down heavily by market participants with expectations that, given the fears over the Chinese economy, the Bank of England could be up to a year away from an interest rate hike….