March 2014 News Archive

<h2>Pound (GBP) </h2> The Pound (GBP) rose today after the latest UK GDP report for the fourth-quarter of 2021 was revised up. However, this was not enough to fully bolster confidence in the UK economy, as the figure had only been slightly revised up to 1.3% from the record slump of 1%. Today also saw UK House Prices dip...

<h2>Pound (GBP) Sinks Despite Covid-19 Vaccine Optimism Buoying Markets</h2> The Pound (GBP) fell against many of its competitors today despite UK business activity growing at its fastest rate since August. Today’s flash March PMI shows that UK manufacturing and services output had soared to a 7-month high after February’s...

<h2>Pound (GBP) </h2> The Pound (GBP) held steady today as Sterling investors look ahead to Thursday’s Bank of England (BoE) policy decision. The Bank is largely expected to hold interest rates at 0.1% but following bullish comments from the BoE’s Governor Andrew Bailey – who said he was ‘more positive’ about the...

<h2>Pound (GBP) </h2> The Pound (GBP) stabilised against many of its peers today owing to a dearth of UK economic data. However, confidence in the UK economy remains high as the nation is set to cautious ease lockdown measures over the next few months. However, Bank of England (BoE) Governor Andrew Bailey warned that the...

<h2>Pound (GBP) </h2> The Pound rose today following Chancellor Rishi Sunak’s announcement of the 2021 Budget. Sunak confirmed the extension of the furlough scheme until September. Today also saw news that the Office for Budget Responsibility (OBR) now expects the UK economy to grow by 4% this year owing to a ‘swifter and...

<h3>Pound (GBP)</h3> The Pound (GBP) rose against the Euro but fell against the US Dollar and Australian Dollar today as Sterling investors brace themselves for another week of coronavirus-led market volatility. GBP also failed to benefit from Downing Street’s epidemiological advisor, Neil Ferguson, who said that UK...

<h3>Pound (GBP)</h3> The Pound (GBP) edged higher against many of its peers in spite of Prime Minister Boris Johnson’s coronavirus diagnosis. Sterling’s gains owed themselves primarily to an improvement in investor sentiment, with the British currency continuing to act as a risk-sensitive asset. GBP has also continued to...

Pound (GBP) Exchange Rates Demand for the Pound was a little stronger today, thanks largely to weakness in the US Dollar. The Bank of England (BoE) left monetary policy frozen in the day’s policy decision, which ultimately had little impact on Sterling’s appeal. Pound investors continue to wait for more UK fiscal stimulus to help...

The Pound to Euro (GBP/EUR) exchange rate rose by over 1% today, with the pairing currently trading around €1.08. The Euro (EUR) suffered today after the publication of the flash Eurozone Composite PMI for March, which showed a significant decrease into contraction territory from 51.6 to 31.4. Chris Williamson, the chief business...

<h2>Pound (GBP) Rebounds as Boris Johnson Tells Britons to Stay at Home</h2> The Pound (GBP) was able to edge higher against a handful of currencies today, including the US Dollar (USD) and Euro (EUR), gaining some respite after slumping in recent days. The British currency was able to benefit from a huge wave of selling...

<h2>Coronavirus Pandemic Sends Pound (GBP) Lower</h2> The Pound (GBP) suffered losses on Monday as investors flocked back to the safe-haven US Dollar (USD) this morning. Sterling was also hit as investors worried about the country’s approach to dealing with the coronavirus pandemic. Added to this, Britain’s large...

<h2>Emergency BoE Rate Cut Buoys the Pound (GBP)</h2> Sterling (GBP) plummeted against a handful of currencies earlier on Thursday as traders flocked to the safe-haven US Dollar. However, after the Bank of England (BoE) cut interest rates once again in the second emergency cut this month, GBP was able to claw back some of its...

<h3>Pound (GBP)</h3> The Pound (GBP) remained subdued against its peers today as UK economic recession fears grow amid the ongoing global coronavirus pandemic. Today also saw the release of January’s UK ILO Unemployment Rate rise to a worse-than-expected 3.9%. However, as this was before the major Covid-19 pandemic,...

<h3>Pound Sterling (GBP)</h3> The Pound (GBP) edged higher today as hopes returned for the British economy as Downing Street appeared to take a firmer stance on the coronavirus epidemic. Today also saw the release of the UK Rightmove House Price Index, which rose in March by 1%, while the year-on-year figure edged higher by...

<h3>Pound Sterling (GBP)</h3> The Pound (GBP) failed to make any significant gains following Chancellor Rishi Sunak’s announcement of the Spring Budget 2020. Today also saw the Bank of England (BoE) announce its emergency rate cut. The rate was slashed from 0.75% to 0.25% amid growing fears that Covid-19 will weaken the...

<h2>Pound Sterling (GBP) Slumps on ‘Black Monday’</h2> The Pound (GBP) suffered losses on Monday afternoon after the UK government’s emergency Cobra meeting. While the government said the UK was remaining in the ‘containment’ stage, Downing Street has said it has accepted coronavirus ‘is going to spread in a...

<h3>Pound Sterling (GBP)</h3> The Pound (GBP) has benefited from easing fears of an interest rate cut from the Bank of England (BoE) today after Andrew Bailey, the future Governor of the BoE, said that the BoE would require ‘more evidence’ of Covid-19’s impact on the British economy before cutting interest rates....

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) struggled against many of its peers today after the UK Markit Services PMI for February undercut forecasts and eased from 53.3 to 53.2. The GBP exchange rate has also become beset by rising odds of a rate cut from the Bank of England (BoE), with the coronavirus outbreak threatening...

<h2>Pound Sterling (GBP) Rises as Markets Expect BoE Rate Cut</h2> The Pound (GBP) was able to make gains against a handful of currencies as the country’s trade talks with the European Union and expectations of a Bank of England (BoE) cut to offset Covid-19 damage. The Pound also made gains after outgoing Bank of England...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) recovered today following news that the European Research Group (ERG) would be willing to back Prime Minister Theresa May’s Brexit deal. This has eased fears of a possible no-deal Brexit, with the ERG – along with the DUP – previously being one of the major obstacles for...

<h2>Pound (GBP) Dampened by Brexit Uncertainties</h2> Sterling (GBP) exchange rates fluctuated over the course of the day, with sentiment in the Pound largely dampened by Brexit uncertainties as Prime Minister Theresa May headed to Brussels. Today saw the Bank of England (BoE) leave interest rates unchanged at 0.75%, with...

<h2>Pound (GBP) Volatile as MPs Vote against No-Deal Brexit</h2> Early this morning, the Pound (GBP) rose against the majority of major currency pairings as the risk of a no-deal Brexit was deemed to have greatly decreased. Last night, the House of Commons voted to reject a no-deal Brexit under any circumstances. This...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) gained today after Prime Minister Theresa May announced that the ‘meaningful vote’ will go ahead tomorrow, dispelling rumours that there could have been a delay to the vote due to a political stalemate between the UK and the EU over the Irish backstop. Sterling has also...

<h2>Pound Sterling (GBP) Weighed Down as Brexit Negotiations Reach an Impasse</h2> The Pound (GBP) slipped against a handful of currencies over the course of the day. Sterling remained weighed down following a speech from the Bank of England’s (BoE) Silvana Tenreyro in which she emphasised the bank was more likely to cut...

Pound Sterling (GBP) Although it saw widespread gains at the start of the previous week, the Pound has since fallen in value against the Euro and US Dollar, along with the rest of its currency peers. This poor performance comes as the US Dollar strengthens because of trading developments; this has made the Pound a less desirable...

Pound Sterling (GBP) The Pound made gains against both the Euro and US Dollar today, but these temporary advances have since given way to tight trading against the Euro and a loss against the US Dollar. The headline news has been that while the Bank of England (BoE) hasn’t hiked UK interest rates, it could still do so as soon as...

Pound Sterling (GBP) The Pound has advanced against the Euro on 20th March, but has conversely fallen against the US Dollar. This mixed performance has been repeated elsewhere, with GBP either making minor gains or losses against most of its currency peers. Today’s UK data has been the main influencer behind this mixed movement...

Pound Sterling (GBP) The Pound has closed weekly trading on 16th March in a mixed position, having traded tightly against the Euro and US Dollar. This varied performance is down to gloomy UK economic forecasts being countered by low risk sentiment making the Pound a more attractive currency. Looking ahead, Sterling could make...

Sterling The Pound (GBP) remained largely muted against the majority of its peers on Thursday as ongoing Brexit fears continued to hamper the currency. Recent concerns have focuses on the publication of the EU’s draft guidelines for the second stage of Brexit talks, as it suggest a ‘bespoke’ Brexit deal is likely off the...

Pound Sterling (GBP) On 1st March, as the UK is battered by extreme weather conditions, the Pound has dropped in value against the Euro and the US Dollar. This GBP deterioration comes after news that the UK manufacturing PMI for February has seen growth slow to an eight-month low. Sterling could still recover on 2nd March when UK...

Pound Sterling (GBP) The most volatile of the major currencies today, the Pound initially dropped when Theresa May began Brexit proceedings on Tuesday night. As the Article 50 trigger was heavily priced in, however, these losses were shortlived and Sterling soon recovered. With Brexit now officially underway and negotiations imminent, the...

Sterling The Pound (EUR) drifted higher against most of its peers today following the release of the UK’s latest Retail Sales figures. Data compiled by the ONS showed that sales surged from -0.5% to 1.4% in February, sailing past initial forecasts that sales would only show 0.4% growth. However Sterling was forced to cede some of...

Pound Sterling (GBP) The Pound has been today’s surprise currency contender, with initial estimates of a quiet day’s trading getting blown out of the water by a surprise Bank of England (BoE) policymaker split. What was forecast to be a routine BoE interest rate decision turned out to be anything but, with Kristin Forbes dissenting...

Pound Sterling Despite the UK visible trade balance narrowing from -10.9 billion to -10.8 billion the mood towards the Pound did not improve on Friday. Sterling instead weakened in response to fresh contractions in construction and manufacturing output, which together offered further evidence that the economy is in less-than-robust health....

Pound Sterling The Pound has risen dramatically against many of its currency rivals today, in somewhat unusual circumstances. Rather than being supported by a favourable announcement for industry or the economy, the Pound has instead been raised in appeal by the BoE failing to mention cutting the UK interest rate in its most recent...

GBP Edges Higher on Production Data Improved UK Industrial and Manufacturing Production figures have helped to shore up the Pound today, offering encouragement to investors as the outlook of the UK economy remains clouded by ‘Brexit’ uncertainty. Some of the shine was taken off the resultant rally by a less optimistic NIESR Gross...

Pound Sterling It was reported last Friday that the European Union currently dominates more of Britain’s public consciousness than at any other point of the past 13 years. As the historic Referendum vote is a mere three months away, these concerns can hardly be called surprising. As time draws closer to the June 23rd vote, demand for GBP...

Pound Sterling Confirming investor fears, data from Thursday morning showed that Britain’s strong service sector was growing at an almost three-year-low pace in February. Output dropped by considerably more than analysts expected it would; from 55.6 to 52.7. This new result, alongside other data releases from this week, put all major...

Pound Sterling Weak data dominated the UK’s latest releases on the 2nd. Following the 34-month low manufacturing PMI data released on Tuesday, weak construction data surprised investors with a lower-than-expected reading of 54.2, with the gauge having fallen from 55.5. Despite this, the Sterling held on to positive trends throughout...

Pound Sterling After the GfK Consumer Confidence gauge showed an improvement in UK sentiment, the Pound gained on several of its rivals. The index advanced from 1 in February to 4 in March. Whether or not Sterling holds on to these gains depends on today’s UK current account and GDP reports. Positive ecostats could help the Pound extend...

Pound Sterling (GBP) The day’s UK reports, Net Consumer Credit and Mortgage Approvals, had little impact on the Pound Sterling exchange rate on Monday. The British asset is more likely to experience volatility later in the week in response to UK consumer confidence, manufacturing and construction figures. Euro (EUR) Although the Euro...

Pound Sterling David Cameron’s victory in the televised head-to-head between the leaders of the Conservative and Labour parties lent the Pound support on Friday, as did Thursday’s impressive UK retail sales report. The Pound approached the 1.37 level against the Euro but remained trading in a weaker position against a bullish US Dollar....

Pound Sterling Prior to the release of the UK’s retail sales report, the Pound was trading in a stronger position against the US Dollar but holding declines against the Euro. As UK retail sales were shown to have surged by almost double the amount expected in February, the Pound could advance in the hours ahead. Euro The recent run...

Pound Sterling The Pound’s disastrous week failed to get any better on Wednesday, with the British asset left trading in the region of 1.35 against the Euro following the release of encouraging German news. Sterling was also caught in a bearish relationship with the US Dollar following Tuesday’s below-forecast UK inflation data. ...

Pound Sterling Prior to the release of the UK’s latest inflation figures, the Pound was holding steady against the US Dollar but trending in a slightly weaker position against the Euro. If today’s CPI prints below the 0.1% expected, Sterling could extend declines against the common currency. Euro Hopes that Greece will soon reach a...

Pound Sterling After posting widespread declines on Wednesday in reaction to the UK’s disappointing employment figures and the Bank of England’s dovish meeting minutes, the Pound spent Thursday recovering ground against the Euro. Although the British currency also strengthened against the US Dollar, it gradually eased back towards its...

Pound Sterling A soft day of trading on Wednesday left the Pound close to a multi-year low against the US Dollar and at its lowest level for a fortnight against the Euro. However, the British asset has since recovered ground and returned to trending in the region of 1.39 against the Euro and 1.48 against the US Dollar. Euro With the...

Pound Sterling The Pound was slightly softer against its major rivals ahead of the release of the UK’s employment figures and the Bank of England’s meeting minutes. Strong jobs data or a hawkish central bank could lend Sterling support and help it recover recent losses. Euro Encouraging ZEW economic sentiment surveys for the...

Pound Sterling Despite UK data lacking and forecasts for tomorrow’s domestic job numbers to show improvement, the Pound broadly softened on Tuesday. Sterling stumbled against the Euro and US Dollar as well as shedding the gains acquired against the ‘Aussie’ following the publication of the RBA’s policy meeting minutes. If today’s...

Pound Sterling Ahead of this week’s main UK news – the nation’s employment figures and minutes from the Bank of England’s last policy meeting – the Pound was trading close to a seven-year high against the Euro and in the region of a 4 ½ year low against the US Dollar. The British asset derived some support from the UK’s...

Pound Sterling The Pound fell back to trending in the 1.39 region against the Euro on Friday as the UK’s Construction Output report disappointed expectations. Output was shown to have fallen by -2.1% on the month rather than increasing the 1.3% expected. This data, in conjunction with negatively revised BoE interest rate hike expectations,...

Pound Sterling Yesterday’s below-forecast Industrial Production report for the UK weighed heavily on the Pound, but as today’s domestic trade data revealed a sharp narrowing in the nation’s deficit, Sterling is likely to recover ground in the hours ahead. Euro The common currency recouped losses against several of its rivals as...

Pound Sterling Although today’s UK Industrial/Manufacturing Production reports for the UK came in below forecast levels, the Pound remained trading above 1.41 against a struggling Euro. Declines against the US Dollar were also limited ahead of the UK’s GDP estimate, due for publication later today. Euro Various reports from Greece...

Pound Sterling Today’s British Retail Sales Like-for-Like sales report had little impact on Sterling trading. The data came in at 0.2% year-on-year in Feb, unchanged from January’s annual reading. Economists had expected an increase to 0.5%. However, although this was a below-forecast result, the Pound was still able to push above 1.40...

Pound Sterling The Bank of England kept interest rates and the asset purchase target unchanged on Thursday, as economists expected. The decision had little impact on the Pound and the British asset remained trading in the region of a seven-year high against the Euro. The BoE/GfK Inflation report could cause some Sterling fluctuations as...

Pound Sterling Yesterday’s below-forecast UK Services PMI caused a slight softening in the Pound, and the British asset extended losses against the US Dollar thanks to upbeat ecostats for the world’s largest economy. Today’s BoE interest rate decision is a bit of a non-event and is unlikely to trigger notable Sterling fluctuations....

Pound Sterling This week’s manufacturing and construction PMI’s for the UK printed above expected levels, but the nation’s services index failed to continue the trend. As expansion in the UK services sector was shown to have eased slightly in February, the Pound pared gains against the Euro and extended declines against peers like the...

Pound Sterling After the UK’s Construction PMI was shown to have risen from 59.1 to 60.1 in February, rather than falling to 59.0 as expected, the Pound advanced on several of its peers. Sterling recouped previous losses against the Euro and gained by 0.1% against the US Dollar. Euro Yesterday’s encouraging unemployment and...

Pound Sterling The Pound drifted lower against the Euro and US Dollar on Monday as soft UK house price and mortgage approvals data outweighed the impact of the nation’s improved manufacturing PMI. However, if these week’s other PMI rehttp://www.ukfx.co.uk/adminnews/admin.php?p=news_new#ports (services and construction) also reveal...

Pound Sterling The Pound was trading above the 1.21 level against the Euro over the weekend as data showed that UK house prices made their longest run of increases in close to seven-years. The GBP/EUR softened on Monday however after German Retail sales smashed economist forecasts. Sterling could again push higher if today’s mortgage...

Pound Sterling GBP/USD – Trading in the Region of 1.6622 The Pound closed the week in a stronger position against many of its most traded currency counterparts. The British asset was supported against its peers as yesterday’s impressive UK retail sales report and today’s surprisingly upbeat UK consumer sentiment data added to the...

Pound Sterling GBP/USD – Trading in the Region of 1.6621 Over the course of European trading, the Pound extended gains against its rivals. Sterling broadly strengthened following the release of unexpectedly upbeat UK retail sales figures and the currency may hold on to these gains until tomorrow and the publication of UK growth data. ...

Pound Sterling GBP/USD – Trading in the Region of 1.6542 Pound movement was a little stilted ahead of the publication of UK retail sales figures, but the British asset was able to edge slightly higher after Bank of England official Martin Weale confirmed that interest rates would be raised to more normal levels as the nation’s economy...

Pound Sterling GBP/USD – Trading in the Region of 1.6508 Sterling slumped beyond a six week low against the US Dollar as UK CPI data confirmed that domestic inflation slowed to its lowest level for at least four years. The Pound may well retain today’s declines until Thursday and the publication of UK retail sales figures. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6486 The diverging fiscal policy being adopted by the Bank of England and US Federal Reserve pushed the Pound lower against its US counterpart. Sterling also weakened against the Euro as Eurozone PMI data was published. A lack of UK news could limit further Pound movement today. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6511 As local trading progressed on Friday the Pound stumbled as a report revealed that the UK’s budget deficit unexpectedly increased last month. Further Sterling movement may be minimal before the weekend. US Dollar USD/GBP – Trading in the Region of 0.6058 The FOMC...

Pound Sterling GBP/USD – Trading in the Region of 1.6491 On Thursday the Pound continued trading lower against the US Dollar and pushing the 1.20 boundary against the Euro. The currency could fluctuate before the weekend as a result of UK public sector net borrowing figures. US Dollar USD/GBP – Trading in the Region of...

Pound Sterling GBP/USD – Trading in the Region of 1.6638 During European trading the Pound advanced on its rivals following the release of UK employment figures. Further Sterling movement could follow Chancellor of the Exchequer George Osborne presenting the UK budget. US Dollar USD/GBP – Trading in the Region of 0.6011 With...

Pound Sterling GBP/USD – Trading in the Region of 1.6605 As another quiet UK news day began the Pound was little changed against the US Dollar and remained below the key 1.20 level against the Euro. Over the course of European trading any Sterling movement is likely to be the result of global developments. US Dollar USD/GBP –...

Pound Sterling GBP/USD – Trading in the Region of 1.6630 As a Rightmove report showed that UK property asking prices climbed to a record high in March, the Pound was little-changed against peers like the US Dollar and Euro. The British currency may trade in a narrow range ahead of Wednesday’s influential domestic employment figures and...

Pound Sterling GBP/USD – Trading in the Region of 1.6612 Although UK trade data showed that the nation’s trade deficit widened in January the Pound was supported by upbeat domestic construction output news and advanced on several of its peers. US Dollar USD/GBP – Trading in the Region of 0.6017 Yesterday’s...

Pound Sterling GBP/USD – Trading in the Region of 1.6681 After a report showed that the pace of UK house price increases is slowing, the Pound was little-changed against the US Dollar. Sterling did lose ground against a bullish Euro however and is likely to continue trading in a narrow range ahead of tomorrow’s UK trade balance data....

Pound Sterling GBP/USD – Trading in the Region of 1.6617 A lack of UK news is likely to leave the Pound trading in a fairly narrow range today, although investors will be looking ahead to Friday’s UK trade balance data and questioning whether the report will add to the UK’s brightening economic picture. US Dollar USD/GBP –...

Pound Sterling The Pound slid to its lowest-level of the year yesterday against the Euro as a Bank of England policy maker talked down the currency and as the Central Bank came under pressure over a currency rigging scandal. The currency recovered some ground early this morning after trade balance data out of Germany came in below...

Pound Sterling GBP/USD – Trading in the Region of 1.6699 On Friday the Pound softened against a broadly bolstered US Dollar and the GBP/USD pairing is little changed today. A lack of significant UK data may restrain Pound movement in the hours ahead, although economists will be looking ahead to Wednesday’s trade figures. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6759 Following the Bank of England’s policy meeting the Pound was slightly stronger against the US Dollar. The British currency held gains against its US counterpart as investors bet that today’s US non-farm payrolls report will come in below estimate. US Dollar USD/GBP –...

Pound Sterling GBP/USD – Trading in the Region of 1.6715 The Pound was within touching distance of a four-year high against the US Dollar as local trading got underway and investors focused on the Bank of England’s upcoming interest rate announcement. US Dollar USD/GBP – Trading in the Region of 0.5983 With investors betting...

Pound Sterling GBP/USD – Trading in the Region of 1.6667 Following the release of the UK services PMI report, which showed a record pace of hiring in February, the Pound strengthened against the US Dollar. Gains against the Euro were limited as the common currency was supported by upbeat domestic developments. US Dollar USD/GBP –...

Pound Sterling GBP/USD – Trading in the Region of 1.6700 Before the release of UK construction figures the Pound was a little softer against peers like the US Dollar and Euro... Tomorrow’s services report and BRC shop price index will also have an impact on Sterling. US Dollar USD/GBP – Trading in the Region of 0.5987 The...

Pound Sterling GBP/USD – Trading in the Region of 1.6709 With investors turning to safe-haven assets in the wake of mounting Ukrainian concerns, the Pound softened against the US Dollar. Although today’s manufacturing report for the UK could have an impact on the Pound, a risk-off environment is likely to prevail until some Eastern...

Sterling was able to rise against the Euro as markets braced themselves for the reopening of banks in Cyprus. On March the 16th the EU presented Cyprus with a controversial proposal demanding the enforcement of losses on all depositors in exchange for a much needed bailout. Although this initial proposal was ultimately rejected, in the...

After weeks of positive data releases for the US, today’s worse than anticipated results came as something of a surprise. Firstly, in the week ending March 23rd first time jobless claims advanced to 357,000 – a 16,000 increase which was significantly more than economists expected. The current level is now the highest for over a...

Pound Sterling GBP/EUR – Hit two-month high The fiscal crisis in Cyprus and continuing political uncertainty in Italy caused the Euro to broadly soften yesterday, allowing the Pound to briefly achieve a two-month high against its common-currency rival. Sterling’s advance occurred even after data confirmed that the UK economy shrank...

After hitting a fresh four-month low against the US Dollar this morning the Euro has continued sliding, dipping below 1.28 US Dollars to trade in the region of 1.2792. The issues with Cyprus, when viewed in conjunction with the political uncertainty still dogging Italy, have substantially lessened the appeal of the common currency. The...

Pound Sterling GBP/USD – Under mild pressure After achieving close to a four-week high against the US Dollar and an almost six-week high against the Euro the Pound slipped slightly before the close of the European session. While Sterling’s outlook is more bullish than it has been so far this year, several pieces of UK data will be...

Pound Sterling GBP/USD – Close to four-week high, GBP/EUR – Within reach of a six-week high Sterling edged towards a four-week high against the US Dollar this morning prior to the release of CBI reported sales data. Economists are expecting the report to show that UK retail sales increased in March, with a gauge of annual sales...

Haruhiko Kuroda may only have been the Governor of the Bank of Japan for a matter of days, but he’s already causing waves. Kuroda triggered modest but widespread declines in the Yen during local trade after he asserted that the BOJ will look into lengthening the maturities of bond purchases in order to meet his 2 per cent inflation...

For a moment it seemed as though Cyprus would fail to have a bailout package approved before the EU’s deadline. But, in an action-movie style dramatic twist, Cyprus secured a ten billion Euro bailout in the nick of time. In the new plan Cyprus Popular Bank Pcl will close, and losses will be imposed on some deposits held with the Bank...

Pound Sterling GBP/USD – At four-week high The Pound was able to reach its highest level against the US Dollar for a month following the release of a positive housing report for the UK. After figures compiled by Hometrack Ltd revealed that average home values in England and Wales increased by 0.3 per cent this month the Pound...

Yesterday the Pound strengthened against the majority of its peers, notably hitting a three-week high against the US Dollar, after UK retail sales data outstripped expectations. Although economists forecast a gain in retail sales of just 0.5 per cent they actually increased by 2.1 per cent. The better-than-expected result caused industry...

Poor manufacturing/services figures for the Eurozone caused the Euro to fall against the majority of its peers yesterday, and a new twist in the Cyprus tale weighed on the currency further. The European Central Bank demanded that Cyprus come up with the 5.8 billion Euros needed for emergency loans to be issued by Monday, warning that the...

Pound Sterling GBP/EUR – At five-week high, potential to climb further After gaining yesterday on the strength of better-than-expected retail sales figures for the UK, Sterling continued to advance on the Euro as the Cyprus situation reached crisis point. The Pound was trading in the region of a three-week high against the US Dollar...

Yesterday’s Euro rebound was to prove short lived, as less-than-impressive Eurozone data booted the common currency backwards this morning. The Euro was in reaching distance of a four-month low against the US Dollar and slid significantly against both the British Pound and Japanese Yen after manufacturing data from Germany, the...

Pound Sterling GBP/USD – Moving Higher Before the release of this morning’s UK retail sales data the Pound strengthened against the US Dollar, rising to within touching distance of a two-week high. Economists forecast that UK retail sales would increase in February after declining since September of last year, and their predictions...

After a day of ups and downs, the Pound was able to recoup losses sustained against the US Dollar after Chancellor of the Exchequer George Osborne presented his annual budget. This morning Sterling slid significantly against both the US Dollar and Euro prior to the release of minutes from the Bank of England’s latest policy...

After slumping to a four-month low against the US Dollar in reaction to the Cypriot government rejecting the ECB’s bank deposit levy scheme the Euro was able to rebound, climbing by the most for five days. The Euro’s rise to 1.2962 US Dollars, from yesterday’s 1.2844 US Dollars, was largely due to the European Central Bank pledging...

Pound Sterling GBP/USD – Little changed, but movement expected Although market movement has largely been dictated by developments in Cyprus over the last few days, news from the UK is likely to cause movement in the Pound in the hours ahead. While the minutes of the latest Bank of England policy meeting and UK employment data will be...

Pound Sterling After climbing to a five-week high against a broadly softening Euro yesterday, the Pound was little changed this morning prior to the release of the UK’s Consumer Price Index for February. The report showed that UK inflation accelerated last month, up by 2.8 per cent from February of 2012. This result was in line with...