Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
Overall, Sterling has performed well, having briefly broken out of its 1.56~1.60 trading range against the dollar this morning despite the release of poor UK confidence data overnight, while consolidating against the euro.
VIEW FULL ARTICLEIn the UK the end of the first homebuyer stamp duty exemption in March has not encouraged house purchasers in January and February. That should have boosted mortgage approvals that month, but the extremely cold weather in February may have tempered activity.
VIEW FULL ARTICLEThe most market-moving release this morning was the final estimate of UK Q4 GDP. At -0.3% the revision is lower than expectations which will has already proved to be negative for GBP, falling significantly versus EUR and USD this morning.
VIEW FULL ARTICLEThe DXY index was pushed lower overnight following a speech from Bernanke. However he continued to steady the ship, (markets remained buoyed) despite not being overly impressed by the recent employment data there was no hint from the Fed chairman on QE3, although it has been suggested it could be...
VIEW FULL ARTICLEWeekend press reports reopened concerns on sovereign debt issues. Italian PM Monti was reportedly worried about Spanish budget controls. Meanwhile, Germany’s opposition party, the Social Democrats, criticised Chancellor Merkel’s attempts to increase the eurozone firewall. This will be the key subject of discussion between Finance Ministers and Central Bank governors...
VIEW FULL ARTICLEUK retailers experienced the largest fall in sales in 9 months during February, adding to fears that the UK consumer is not going to drive economic growth in the short term. Retail sales volumes fell by 0.8% last month with January’s data revised down from +0.9% to +0.3%.
VIEW FULL ARTICLEThe Chancellor’s annual UK budget statement was characterised as one that stuck to the rules, with the overall package of announced tax changes being fiscally neutral over the next five years. The budget was set against a backdrop of a modest improvement to the medium term outlook for growth and employment.
VIEW FULL ARTICLEThe annual rate of Consumer Price Inflation in the UK fell to 3.4% in February down from 3.6% in the previous month. Although this marks the lowest level of inflation since November 2010, it was still higher than the market had been expecting (consensus 3.3%).
VIEW FULL ARTICLEThe UK’s adherence to a strict austerity programme has helped sterling to appreciate 3% against the US dollar since the beginning of the year. GBP/USD hit a high for 2012 of $1.5990 a couple of weeks ago.
VIEW FULL ARTICLEThe euro kept its gains against the dollar with the cross dipping through $1.3150 just after the London open. Euro-dollar had touched $1.30 on Thursday so the single currency has managed to recover forcefully. However, it remains vulnerable to reverses in sentiment and the IMF warning over execution risk in...
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