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.
Investors are nervous over whether the political gridlock that emerged from the Italian elections could hurt euro zone growth, and if support from the European Central Bank for a nation in trouble can be used if there's no workable government.
VIEW FULL ARTICLEItaly will test markets today with the sale of long-term debt after borrowing costs rose to the highest in 4 months yesterday as inconclusive elections triggered renewed concern Europe’s debt crisis may deepen. This week’s vote produced a hung parliament, with comedian Beppe Grillo’s anti-austerity movement winning more than 25% of the...
VIEW FULL ARTICLEThe Euro skidded close to a 7-week low against the Dollar on Tuesday as the spectre of political gridlock in Italy spurred traders to seek refuge in the U.S. Italy's centre left won the lower house as widely expected, but projections by Italian media indicate no party or coalition will...
VIEW FULL ARTICLEThe pound slid to its weakest level in almost 16 months against the euro after Moody’s Investors Service cut the U.K.’s AAA credit rating, citing weakness in the nation’s growth outlook. Moody’s lowered Britain’s rating by one level to AA1 from AAA and changed the outlook on the nation’s debt...
VIEW FULL ARTICLEMeanwhile, the dollar dangled near a 5-1/2-month high against a basket of currencies on Friday, helped by doubts over just how long the U.S. Federal Reserve will keep its quantitative easing in place. The euro tumbled to a six-week low against the dollar on disappointing euro zone economic data and...
VIEW FULL ARTICLEEuro-area services and manufacturing contracted at a faster pace than economists forecast in February as the economy struggles to recover from the deepest recession in almost four years. European Central Bank President Mario Draghi said this week that the euro area should begin a gradual recovery later this year as...
VIEW FULL ARTICLEThe Pound fell to fresh multi-month lows against the Euro and the Dollar after Bank of England minutes signalled a greater likelihood of more monetary stimulus. The minutes unexpectedly showed three out of the nine BoE policymakers voted for an increase in asset purchases under the bank's quantitative easing programme.
VIEW FULL ARTICLEThe Euro declined against the Dollar on Monday after the European Central Bank President Mario Draghi said economic indicators signalled further weakness in the Euro zone. But Draghi ruled out using the currency as a tool to boost the Euro zone economy after a number of Euro zone policy-makers said...
VIEW FULL ARTICLESterling recovered from a six-month low against the dollar on Friday on expectations of stronger UK retail sales data; although traders said gains may be temporary given worries about the growth outlook. The pound has fallen heavily since the Bank of England quarterly inflation report on Wednesday forecast higher inflation...
VIEW FULL ARTICLEThe pound strengthened against the dollar, snapping a two-day decline, before a report economists said will show U.K. retail sales rose last month. Sterling trimmed its weekly drop versus the euro. Sales including fuel climbed 0.5 percent from December, when they fell 0.1 percent.
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