May 2016 News Archive

<h2>Pound (GBP) </h2> The Pound exchange rate held steady today because of a lack of any influential UK economic data. UK markets remain on the whole positive, however, with Covid-19 infection rates only modestly rising, while daily hospitalisations are showing signs of dropping. Daily deaths from the coronavirus are also...

<h2>Pound (GBP) </h2> The Pound (GBP) struggled this morning despite UK inflation more than doubling in April because of rising energy prices. Inflation is expected to head higher in the coming months as the UK economy continues to ease lockdown restrictions. Jon Hudson, fund manager of Premier Miton UK Growth Fund,...

<h2>Pound (GBP) </h2> The Pound (GBP) rose against many of its peers today after the latest UK growth data revealed that the UK had rebound in March, thanks to the Government’s extensive Covid-19 vaccination rollout programme. UK Chancellor Rishi Sunak celebrated the data, saying: ‘Despite a difficult start to this...

<h2>Pound (GBP) </h2> The Pound (GBP) exchange rate rose today following news that UK car sales had recovered in April, despite being down by over 12% against pre-pandemic levels. The Society of Motor Manufacturers and Traders (SMMT) commented on the data: ‘Demand is likely to be driven by a broad range of new models and...

<h3>Pound (GBP)</h3> The Pound (GBP) struggled today after the Bank of England’s (BoE) policymaker, Michael Saunders, said that the ‘searing experience’ of the coronavirus pandemic would leave its mark on the British economy long after the lockdown was lifted. Mr Saunders commented: ‘If unchecked, there are risks of...

<h3>Pound (GBP)</h3> The Pound (GBP) performed well against the Euro (EUR) and US Dollar (USD) after Downing Street announced its defence of Prime Minister Boris Johnson’s chief aide, Dominic Cummings, who broke lockdown regulations in April. As a result, Sterling reacted positively to an effective settling of the political...

<h2>Pound Sterling (GBP) Slumps on Speculation of BoE Rate Cuts</h2> Sterling (GBP) suffered losses on Thursday as a combination of disappointing economic data and the risk of the Bank of England (BoE) sending interest rates into negative territory. PMI data revealed the UK’s private sector was able to flatten out...

<h3>Pound (GBP)</h3> The Pound (GBP) began to push higher today after UK Health Secretary Matt Hancock revealed that everyone over five – with Covid-19 symptoms was now eligible for a coronavirus test. Mr Hancock also added that 21,000 people had been hired to carry out contract tracing tests. As a result, Sterling benefited...

<h2>Pound (GBP) Slides as PM Refuses to Compromise With EU Over Brexit</h2> Sterling (GBP) suffered losses on Friday as this week’s disappointing data due to the coronavirus crisis and Brexit fears weighed on the currency. Sentiment was left dampened after Boris Johnson’s government reiterated its refusal to extend the...

<h3>Pound (GBP)</h3> The Pound (GBP) remained subdued today as the UK’s economic outlook continues to dim as the coronavirus pandemic continues to hold back key sectors of the British economy. Today also saw news from the ONS that nearly half of UK firms could run out of money within the next six months. As a result, this...

<h3>Pound (GBP)</h3> The Pound (GBP) struggled today after the latest UK Services PMI for April fell to record lows of 13.4. As a result, this left many Sterling traders for the health of the British economy going forward. Tim Moore, the Economics Director at IHS Markit, commented: ‘April's PMI data highlights that the...

<h2>Pound Sterling (GBP)</h2> The Pound failed to gain against many of its competitors today, despite the Chancellor Philip Hammond saying that a second referendum would effectively break the political deadlock over Brexit. However, with uncertainty surrounding both Brexit and the future leadership of the Conservative Party,...

<h2>Pound Sterling (GBP)</h2> The Pound fell against many of its major competitors today as Brexit uncertainty continues to haunt UK markets. This came after the Chancellor Philip Hammond warned that there are many Brexiteer MPs pushing to ‘hijack’ the referendum and push for a no-deal between the UK and the European...

<h2>Pound Sterling (GBP) Slips as UK Unemployment Hits 44-Year Low</h2> The Pound (GBP) edged lower against most major currency pairings following the release of the UK unemployment rate. Data revealed that UK unemployment had hit a 44-year low of 3.8% in March, and the rate of unemployment for women had hit an all-time low...

<h2>Pound Sterling (GBP) Flat as Cross-Party Talks Close to Collapse</h2> The Pound (GBP) remained muted against most major currencies as reports suggested that cross-party Brexit talks were close to collapse. It was suggested by ITV’s Political Editor, Robert Peston that before the Labour party launched its EU election...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) rose today as the UK local elections have further force Prime Minister Theresa May to challenge the political deadlock between the two major parties, after the Conservatives lost nearly 500 seats. Sterling has also benefited from the publication of the UK Markit Services PMI...

Pound Sterling (GBP) Excluding an advance against the Euro, the Pound has otherwise fallen or traded tightly against its regular currency peers today. Sterling has been most strongly influenced by trader worries about Brexit – the latest concern is that the City of London could be ‘frozen out’ by the EU in the future. The next...

Pound Sterling (GBP) Following another disappointing UK inflation report earlier in the week, Bank of England (BoE) interest rate hike bets tumbled and so did the Pound. With Britain’s economic outlook increasingly gloomy and Brexit uncertainties persisting, investors have had little reason to buy the British currency. Demand for the...

Pound Sterling (GBP) The Pound has made a minor rise against the Euro today, but has otherwise struggled and fallen against the US Dollar, Australian Dollar and New Zealand Dollar. This poor overall performance comes on a quiet day for economic data; the main influence has been Bank of England (BoE) Deputy Governor Ben Broadbent. Mr...

Pound Sterling (GBP) The Pound has been one of today’s biggest currency losers, having dropped by -0.5% against the US Dollar and -1% against the Euro, in addition to seeing greater losses against other peers. This poor performance comes after Bank of England (BoE) policymakers voted to leave interest rates at 0.5% at their latest...

Pound Sterling (GBP) The Pound has fallen in value today, making minor losses against the Euro and US Dollar and dropping more heavily against the Australian Dollar and New Zealand Dollar. This poor performance follows the release of April’s services sector PMI, which grew but not by as much as expected. Pound traders were...

Pound Sterling Thursday was not a positive day for the Pound, as markets were unimpressed to find that no other Bank of England (BoE) policymakers had joined noted hawk Kristin Forbes in voting for an interest rate hike. While the Bank’s forecasts remained largely unchanged this was accompanied by the caution that these projections are...

Pound Sterling (GBP) After the UK services PMI rose instead of falling as forecast, the Pound rallied against the Euro and US Dollar. The GBP EUR exchange rate has since fallen due to a strong Euro, but the Pound remains in high demand against other peers. The services sector is the largest in the UK, so this unexpected growth has been...

Sterling The Pound (GBP) rallied against the majority of its peers on Wednesday morning as the UK released a better than expected Construction PMI, with activity rising from 52.2 to 53.1 in April. However Sterling began to recede against many of its peers by the afternoon as the UK government clashed with the EU over a report that the...

Pound Sterling (GBP) The Pound has been trending in a softer position against most of its rivals today, with losses likely stemming from the fact that the day’s only UK data has been negative. This has consisted of the Lloyds business barometer, which has fallen from 38 points to 32, which represents the lowest figure seen since...

Pound Sterling An unexpected rise in consumer confidence and further ‘Brexit’ referendum interventions have helped the Pound strengthen against several of the majors, although equally large declines have been seen verses other peers. Consumer confidence remained negative, although it rose instead of falling as predicted, climbing from -3...

Pound Sterling After rallying strongly on an IPSOS MORI poll that gave the ‘Remain’ campaign a strong lead the Pound continued to extend gains on Thursday. This bullishness was fuelled by stronger-than-expected UK Retail Sales figures, as the sector posted growth of 4.3% on the year in April. As consumer spending had evidently increased...

Pound Sterling Pound Sterling started the session in a strong position, but poor inflation figures and further ‘Brexit’ debates have since weakened the UK asset. Consumer prices printed below expectations, slowing to 0.3% on the year, with core price growth slipping to 1.2%. Markets didn’t initially react to the data, perhaps having...

Pound Sterling (GBP) The Pound’s previous ‘Super Thursday’ strength seemed all but depleted during Monday’s session as a quiet data calendar and continued ‘Brexit’ rows saw it fluctuating in many pairings. Rightmove’s May house price report was mixed, slowing from 1.3% to 0.4% month-on-month but improving from 7.6% to 7.8%...

Pound Sterling (GBP) The Pound trailed lower against many major rivals on Thursday after the UK’s highly anticipated Services and Composite PMI releases printed worse-than-expected. Services disappointed forecasts of 53.5 by falling from 53.7 to 52.3, while the overall Composite score came in at 51.9, letting down hopes that it would...

<b>Pound Sterling (GBP)</b> The Pound initially held its ground against many major peers during Tuesday’s session, but investors eventually began to react to poor Manufacturing PMI data released in the morning as reports circulated that the figure had contracted on ‘Brexit’ worries. The key indicator of Britain’s...

Pound (GBP) The Pound softened against a host of other peers on Friday after UK Consumer Confidence took a dive. The sentiment index slipped from 4 in April to only 1 in May, despite forecasts to remain at 4. The ecostat came after a period of choppy trading and economic disruption from the UK general election. The UK Lloyds Business...

Pound Sterling (GBP) In the aftermath of the Queen’s speech, which reiterated the Conservatives plan to hold an in/out referendum on Britain’s membership in the European Union, the Pound softened versus most of its closest traded rivals. The prospect of a long period of uncertainty is weighing heavily on sentiment towards the British...

Pound Sterling (GBP) After having registered better-than-expected retail sales in May, the Confederation of British Industry (CBI) now expects British sales to reach a 26-year high over the coming month. This is based on the negative consumer prices and the record-low lending rate. The positive report saw the Pound edge higher on Tuesday,...

Pound Sterling (GBP) The Pound is generally holding steady versus the majors on Tuesday as traders await British sales data. A fractional depreciation can be linked to ongoing dears surrounding the impending European Union referendum. With Prime Minister David Cameron intimating that he would champion a Brexit if the concessions he proposes...

Pound Sterling (GBP) Having rallied significantly in response to relatively hawkish minutes from the Bank of England’s (BoE) most recent policy meeting, the Pound has steadied on Thursday. Monetary Policy Committee (MPC) minutes showed that policymakers expected the slack in the British economy to dissipate within a year. This would...

Pound Sterling (GBP)\r\nThe Pound softened versus many of its major peers over the weekend after the recent advance opened up some attractive selling positions, prompting many traders to lock in profits. The initial Sterling appreciation was the results of better-than-expected construction data at the tail-end of last week. \r\n\r\nMonday has...

Pound Sterling (GBP) After the UK dipped into deflation fir the first time since 1960, the Pound softened versus the majority of its most traded currency peers. The declination was somewhat slowed, however, given that the Bank of England (BoE) showed no concern, and the UK could see improved growth amid low consumer prices. Wednesday...

Pound Sterling (GBP) As traders await Construction Output data, due for publication later on Thursday morning, the Pound is generally trading statically versus the majority of its most traded currency rivals. A slight appreciation can be attributed to the positive results from Wednesday’s House Price Balance data which eclipsed the median...

Pound Sterling (GBP) The Sterling election rally was capped on Tuesday after the Bank of England (BoE) Inflation Report stripped the year’s growth forecast from 2.9% to 2.5%. However, the dovish report was accompanied by impressive results from labour market data which softened the blow considerably. Thursday morning has seen the...

Pound Sterling (GBP) Amid mounting speculation that the Conservatives will hold a referendum on European Union membership by 2016, the Pound edged lower versus many of its most traded currency rivals. Wednesday has seen Sterling trending relatively statically versus its major peers as traders await labour market data. Additional hesitancy to...

Pound Sterling (GBP) After having rallied significantly on the Conservative victory in the general election, the Pound edged lower versus many of its major peers on Tuesday morning. This can be attributed to the suggestion that Prime Minister David Cameron will bring the promised referendum on Britain’s membership in the European Union...

Pound Sterling (GBP) Having seen significant losses in response to election jitters and political uncertainty, the Pound strengthened considerably after the Conservative majority victory. With a strong ethos regarding economic prosperity, and with the blues backed by businesses and banks, the Pound’s upswing was to be expected. Monday...

Pound Sterling (GBP) Gains as Tories Take the Lead The Pound has been subject to significant volatility over the past few weeks amid general election jitters. Political uncertainty caused the Pound to soften versus many of its major peers as traders feared a massive policy overhaul. As the ballot counting continues, the likelihood of a...

Pound Sterling (GBP) Softens on Political Uncertainty Given that the general election has been described as the most closely contested in modern political history, investor confidence dampened considerably amid political uncertainty. This weighed on demand for the British asset as a complete policy overhaul, and the potential for a...

Pound Sterling Although the UK general election continues to pile pressure on the Pound, the British currency experienced movement on Wednesday as the UK Services PMI advanced to 59.5 in April, defying forecasts for a reading of 58.5. The eight-month high reading saw Sterling shift against peers like the Euro and US Dollar. Euro With...

Pound Sterling Ahead of the release of the UK’s latest Construction PMI the Pound was trending in a stronger position against both the Euro and US Dollar. The GBP/EUR exchange rate advanced as the ongoing Greek bailout negotiations and soft manufacturing data from France reduced demand for the Euro. However, if today’s construction...

Pound Sterling Sterling broadly softened on Friday as the UK’s Markit Manufacturing PMI provided cause for concern. The gauge of the nation’s manufacturing sector was shown to have fallen to 51.9 from 54.0, taking it closer to the 50 mark separating growth from contraction, and the Pound accordingly dropped to 1.35 against the Euro. ...

Pound Sterling GBP/USD – Trading in the Region of 1.6752 The Pound posted modest gains on Friday as investors responded to surprisingly upbeat UK confidence and house price data. Sterling’s strength also came from the British Chamber of Commerce’s decision to up its UK growth forecasts. US Dollar USD/GBP – Trading in the...

Pound Sterling GBP/USD – Trading in the Region of 1.6724 After striking a six-week low against the US Dollar yesterday the Pound was little changed against its major currency counterparts. A lack of UK news could restrain further Sterling movement before the weekend. US Dollar USD/GBP – Trading in the Region of 0.5977 Over the...

Pound Sterling GBP/USD – Trading in the Region of 1.6722 On Wednesday the Pound consolidated recent declines against its major rivals as the Confederation of British Industry reported a slowing in sales growth. The CBI reported sales measure fell from +30 to +16 instead of advancing to +35. US Dollar USD/GBP – Trading in the...

Sterling GBP/USD – Trading in the Region of 1.6820 The Pound was slightly softer against the US Dollar as investors engaged in a bit of profit taking in a comparatively quiet news week. If today’s US Markit PMI and consumer confidence figures disappoint expectations the Pound could recover losses. US Dollar USD/GBP – Trading in...

Pound Sterling GBP/USD – Trading in the Region of 1.6833 While the Pound pared its advance against the US Dollar following the release of UK GDP figures and US manufacturing data, the British currency continues to trade in the region of a 17-month high against the Euro. US Dollar USD/GBP – Trading in the Region of...

Pound Sterling GBP/USD – Trading in the Region of 1.6870 The Pound fell against the US Dollar for the first time in six days as the UK growth report met expectations and the nation posted a larger-than-forecast budget deficit. Sterling was also slightly weaker against the Euro. US Dollar USD/GBP – Trading in the Region of...

Pound Sterling GBP/USD – Trading in the Region of 1.6890 An unexpectedly strong increase in UK retail sales helped the Pound post widespread gains on Wednesday. The British currency held its advance even as the Bank of England meeting minutes showed that all nine policymakers believed that interest rates should remain at record lows....

Pound Sterling GBP/USD – Trading in the Region of 1.6842 On Tuesday Sterling strengthened across the board thanks to a larger-than-forecast gain in UK consumer price inflation. However, if the Bank of England meeting minutes are particularly dovish tomorrow the Pound could give up its advance. US Dollar USD/GBP – Trading in the...

Pound Sterling GBP/USD – Trading in the Region of 1.6832 The Pound edged lower against the Euro on Monday as investors considered Bank of England Governor Mark Carney’s comments regarding the economic risk posed by rising house prices. Sterling was little-changed against several of its other major currency counterparts. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6796 On Friday a bout of risk aversion helped the Pound recover losses against the US Dollar and Euro. Although a lack of UK news restrained Sterling movement slightly, it returned to trading in the region of a 16-month high against the common currency. US Dollar USD/GBP –...

Pound Sterling GBP/USD – Trading in the Region of 1.6751 The Pound held declines against the US Dollar on Thursday as investors dwelt on the Bank of England’s dovish rhetoric. However, disappointing news from the Eurozone helped the Pound recover losses against the Euro. US Dollar USD/GBP – Trading in the Region of...

Pound Sterling GBP/USD – Trading in the Region of 1.6857 Before UK employment figures were published the Pound was trading close to a 16-month high against the Euro and was holding gains against the US Dollar. As the UK economy was shown to have added more jobs than forecast in the three months to March Sterling could rally in the hours...

Pound Sterling GBP/USD – Trading in the Region of 1.6851 Although tomorrow’s UK employment data is forecast to show a decline in the nation’s jobless rate, the Pound pared gains against several of its major currency counterparts during a quiet European session. Sterling could recover ground if the UK economy adds the number of...

Pound Sterling GBP/USD – Trading in the Region of 1.6890 The Pound began the week in a comparatively strong position against peers like the US Dollar and Euro as investors bet that this week’s UK employment report would show a decline in the nation’s unemployment rate. An improvement in the Lloyd’s employment index also supported...

Pound Sterling GBP/USD – Trading in the Region of 1.6900 After advancing on the majority of its peers earlier in the week, the Pound softened slightly against the US Dollar and Euro on Friday. Although reports showed that UK manufacturing production rose by more than anticipated in March, the pace of construction output unexpectedly...

Pound Sterling GBP/USD – Trading in the Region of 1.6961 The Pound began the day slightly lower against the Euro but holding steady against the US Dollar. Unless the Bank of England issues a surprise policy statement today Sterling movement might be stilted. US Dollar USD/GBP – Trading in the Region of 0.5897 After Federal...

Pound Sterling GBP/USD – Trading in the Region of 1.6961 Although UK news was limited on Wednesday, the Pound approached a nine-week high against the Euro and remained close to a four and a half year high against the US Dollar. Sterling was supported by yesterday’s impressive services report and speculation surrounding the Bank of...

Pound Sterling GBP/USD – Trading in the Region of 1.6945 During the local session the Pound advanced on the majority of its currency counterparts as a result of surprisingly upbeat UK services data. If the Bank of England offers a more hawkish policy statement on Thursday, Sterling’s upward momentum could continue. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6858 Even though a gauge of UK construction declined by more than expected in April the Pound was still enjoying a bullish relationship with several of its most traded currency counterparts. With the Bank of England rate decision looming, Sterling volatility can be expected next week....

Pound Sterling GBP/USD – Trading in the Region of 0.5923 Before the release of UK manufacturing data the Pound was softer against the Euro but stronger against the US Dollar. Sterling was modestly boosted by a report showing the steepest annual house price gains since 2007. US Dollar USD/GBP – Trading in the Region of...

The Rand plummeted to a fresh four-year low, breaching the psychological 10 rand per Dollar level, after a specially convened news conference produced the opposite effect than intended. After South African President Jacob Zuma spoke to reporters in hopes of halting the Rand’s recent slide his comments sparked a massive sell-off of the...

Pound Sterling GBP/USD – Trading Higher, 1.5197 The Pound was able to achieve a week-high against the US Dollar yesterday as the former currency was boosted by positive UK housing data and the latter adversely affected by lower than expected US GDP. Additional movement could occur in response to UK mortgage data, due out this morning....

Before the close of local trade the Chinese Yuan dipped slightly against the US Dollar. The currency has risen against the safe-haven ‘Greenback’ in recent days, but weakened to 6.1309 Yuan per Dollar despite attempts made by China’s central bank to push the currency higher through daily fixing. As the Yuan posted gains over...

Pound Sterling GBP/USD – Trading Higher, 1.5161 The Pound climbed against the US Dollar this morning as a Nationwide House Price report showed the most significant increase in UK home sales for 18 months. Influential economic news from the US and Eurozone could be responsible for Sterling movement in the hours ahead, but tomorrow’s UK...

As predicted by the majority of economists, less-than-impressive growth data for Thailand prompted the nation’s central bank to issue its first rate cut of the year. Last week the Thai government had to lower its growth prediction for 2013, to expansion of 4.2 per cent. Its target for export growth was likewise cut, dropping from 11...

Pound Sterling GBP/USD – Trading Lower, 1.5058 The Pound dipped to an 11-week low against the US Dollar prior to the opening of the European session, but was little changed against the Euro. Sterling may experience movement following the publication of a Confederation of British Industry Report, which economists are forecasting will show...

After last week’s far from conclusive statement from the Federal Reserve, any positive US economic news is likely to stoke speculation that the central bank will begin to taper its current level of stimulus. Today two such positive pieces of news are expected, home price figures and an influential consumer confidence index. The US...

Pound Sterling GBP/USD – Fluctuating Modestly, 1.5102 National holidays in the UK and US tempered market movement yesterday, but the Pound still edged lower against a bullish ‘Greenback’ this morning – briefly dropping to 1.5090 before creeping back to 1.5102. In the hours ahead US news is likely to be the main cause of Sterling...

Pound Sterling GBP/USD- Trading Lower, 1.5092 The Pound is set to make its third weekly decline against the US Dollar and is due to make its biggest drop against the Euro in three months as economists await the release of the latest mortgage approvals data. US Dollar USD/EUR -Trading Lower, 0.7720 The ‘Greenback’ declined...

Daily Exchange Rate Round Up:Bernanke speech impacts currency's Pound Sterling GBP/USD- 1.5062 The Pound has fallen to a ten-week low against the US Dollar as economists await the release of data that is expected to show that the UK economy expanded in the first quarter of the year. Against the Euro, Sterling was close to a one-month...

Daily Exchange Rate Round Up: GBP/EUR at four-week low, USD weaker etc Pound Sterling GBP/USD- Trading Lower, 1.5146 The Pound fell to a four-week low against the Euro as investors await the release of the latest policy meeting minutes from the Bank of England. Against the US Dollar, Sterling tumbled to its lowest level in more than...

Pound Sterling GBP/USD – Trading Higher, 1.5237 In the aftermath of yesterday’s positive UK housing report the Pound continued to edge further away from its six-week low against the US Dollar. Sterling volatility can be expected to follow the release of UK consumer price inflation data this morning. Economists have predicted that the...

The Thai Baht, which has been Asia’s top performing currency this year, was little changed at 29.87 Baht per Dollar after the publication of less-impressive-growth than expected. According to the National Economic and Social Development Board Thailand’s GDP rose by 5.3 per cent in the first quarter, less than the 6 per cent predicted...

Pound Sterling GBP/USD – Trading Higher, 1.5206 An industry report revealing a 2.1 per cent increase in UK house prices in May allowed the Pound to strengthen modestly against the US Dollar, edging away from a six-week low. The news did little to effect the GBP/EUR pairing, and further movement is likely to be limited due to a lack of...

The US Dollar surged against the Japanese Yen after being buoyed by better-than-expected US consumer sentiment data. The currency was also supported after a Federal Reserve official suggested that the Central Bank will start winding down its bond buying programme. The Dollar rose as high as 103.09 Yen after data showed the...

Pound Sterling GBP/USD – 1.524 The Pound has weakened against the US Dollar due to increasing speculation that the US Federal Reserve is coming closer to deciding to end its monetary stimulus program. Sterling approached its lowest level in six-weeks as the speculation boosted the US currency. US Dollar USD/EUR- 0.776 The...

Yesterday the Ruble declined against the Bank Rossii’s target basket of currencies as the price of oil, a key Russian commodity, fell and Russian policy makers defied some economist’s expectations by holding interest rates at their previous level. As well as falling to 35.5898 against the central bank’s basket of Dollars and Euros...

Pound Sterling GBP/USD – Trading Lower, 1.5203 While the BoE’s inflation report was comparatively optimistic, and triggered Sterling gains yesterday, the Pound was trading in the region of a six-week low against the US Dollar as the European session began and investors awaited the outcome of a UK government debt sale. Against the Euro...

Yesterday the Swiss Franc fell to its lowest level against the US Dollar for nine months as the American currency continued to enjoy a bullish relationship with its peers, and today the currency softened against the Euro as Swiss investor confidence declined. The latest figures from ZEW, Centre for European Economic research, and Credit...

Pound Sterling GBP/USD – Trading Lower, 1.5196 Sterling dipped below 1.52 against the US Dollar prior to the release of the Bank of England’s inflation report. However, the Pound was able to gain on the Euro as German and French GDP disappointed. This morning’s UK employment figures, which are expected to show a 3,000 drop in...

The British Pound has dropped to a two-week low against the US Dollar due to speculation that investors will offload their holdings of the currency ahead of the Bank of the England’s inflation forecast release tomorrow. Against the Euro, Sterling slumped to its weakest level in a month versus the Euro despite data released earlier in...

Pound Sterling GBP/USD – Trading Higher, 1.5312 Yesterday better-than-forecast US retail sales figures caused the ‘Greenback’ to strengthen and pushed the Pound below 1.53 against its American rival. Sterling was able to stage a modest rebound however as a gauge of UK house prices achieved its highest level for nearly three years....

For a second day the Yuan weakened as the People’s Bank of China cut its daily fixing. As the US Dollar broadly gained and the market reacted to the recent G-7 meeting the reference rate was set at 6.2072 per Dollar by the central bank, nearly 0.1 per cent lower than yesterday. Consequently the Yuan softened to stay within the sanctioned...

Pound Sterling GBP/USD – Trading Lower, 1.5367 With UK news thin on the ground today the Pound retained losses against the US Dollar as European markets opened. Sterling is currently trading in the region of a two-week low against the ‘Greenback’ but is likely to experience volatility in the days ahead following tomorrow’s house...

The Thai Baht declined to its lowest level in a week over speculation that the nation’s Central Bank will cut interest rates after Finance Minister Kittiratt Na-Ranong announced that he would meet the central bank’s policy committee on the 13 the of May. The Minister has requested lower borrowing costs to stem fund inflows that sent...

Pound Sterling GBP/USD – Trading Lower, 1.5435 Sterling slipped against a bullish US Dollar as the European session began. The British currency also lost ground against the Euro ahead of the release of UK trade and construction output data. Economists have forecast that the trade report will show that the nation’s deficit narrowed...

Earlier this week Graeme Wheeler, Governor of the Reserve Bank of New Zealand, intimated that the central bank had intervened in order to lower the ‘Kiwi’s export-damaging exchange rate strength. Now Sweden’s Finance Minister has reasserted his belief that his nation must act if the Krona’s advancement continues to negatively...

Pound Sterling GBP/USD – Trading Prior to the release of UK manufacturing and industrial production figures the Pound was trading in the region of a three-month high against the US Dollar, and with the Bank of England’s rate decision imminent the British currency is in line to experience significant movement in the hours ahead....

Brent Oil Decline Results In Russia’s Ruble Falling In the wake of dipping oil prices the Ruble slipped against Bank Rossii’s target basket of currencies. The Russian currency, which also fell yesterday, dropped to 31.1735 against the US Dollar and shed 0.5 per cent against the basket of Dollars and Euros as oil extended its 1 per...

Pound Sterling GBP/EUR – Trading Lower With German factory order data exceeding expectations yesterday and UK retail sales figures failing to meet predictions today the Pound slipped against the Euro, despite UK house prices increasing by a better-than forecast 1.1 per cent. Although news from the Eurozone might inspire additional...

India's Rupee After declining against the US Dollar for the past three days the Indian Rupee enjoyed a modest rebound today. Yesterday the Rupee slumped to an almost 7-day low as demand for the US currency from state run banks remained high. The increased Dollar demand has largely been attributed to the Indian government’s defence...

Pound Sterling GBP/EUR – Little Changed Although an index of UK employment confidence rose from minus 45 to minus 41 in April, the highest reading since October last year, the Pound was little changed against major rivals the US Dollar and Euro. Separate data compiled by the British Retail Consortium revealed a 0.4 per cent increase in...

Less-than-impressive US data has put pressure on the Mexican Peso over the past month, but with US unemployment falling to a four year low of 7.5 per cent the Peso climbed on its North American rival, strengthening to 12.1075. As Mexico relies on the US for the majority of its trade, stabilisation in the US labour market would be good...

Pound Sterling GBP/USD – Little Changed Prior to the publication of UK services PMI Sterling was little changed against its American counterpart. The British currency advanced yesterday after UK construction was shown to have contracted at a slower rate than anticipated. Pound fluctuations could also result from Eurozone and US news. ...

After Swedbank AB released its manufacturing index the Krona dropped against the US Dollar. Although economists had anticipated that the index would decline, their median forecast was for a drop from 52.1 to 51.2. The PMI actually fell to 49.60, taking the Swedish manufacturing sector from growth to contraction. The contraction was...

Pound Sterling GBP/EUR – Fluctuations Likely As European markets opened the Pound was trading within touching distance of an 11-week high against the US Dollar, but the British currency softened slightly against several of its other most traded peers ahead of the publication of UK construction output figures. The data showed that the...

Pound Sterling GBP/USD – Trading Higher In light of several pieces of positive UK data, and with the US economy causing concerns, the Pound was able to approach an 11-week high against the ‘Greenback’ as the European session opened. Although today’s UK manufacturing figures could result in Sterling movement investors will be...