June 2020 News Archive

<h2>Pound (GBP)</h2>\r\nThe Pound (GBP) fell to a one-month low against the US Dollar (USD) yesterday, following the UK government’s decision to delay lockdown easing. Sterling also dropped in its currency pairing with the Euro (EUR).\r\n\r\nFallout from the government’s decision overshadowed the publication of positive...

<h3>Pound (GBP)</h3> The Pound (GBP) suffered today after the UK’s Mortgage Approvals figures for May fell to record lows. As a result, GBP investors have becoming increasingly concerned for Britain’s economic recovery going forward. Today also saw Downing Street drop hints that it could be aiming for September to wrap up...

<h3>Pound (GBP)</h3> The Pound (GBP) edged higher against many of its peers today after it was reported that Prime Minister Boris Johnson would more-than-likely ease social distancing guidelines on Tuesday. As a result, Sterling has benefited from growing hopes for its economy, with relaxed guidelines likely to improve the...

<h3>Pound (GBP)</h3> The Pound (GBP) fell against most major currencies today after the Bank of England (BoE) announced a further £100 billion addition to its quantitative easing programme. As a result, this left many investors feeling concerned for Britain’s economic recovery. The BoE was also downbeat in its...

<h3>Pound (GBP)</h3> The Pound (GBP) suffered today after the UK’s inflation figures fell to a four-year low of 0.5% today. As a result, this left many Sterling traders concerned for the British economy’s ability to recover in the month’s ahead. Meanwhile, doubts have begun to grow over Brexit after German government...

<h3>Pound (GBP)</h3> The Pound (GBP) edged higher against its peers today as non-essential UK shops reopened for the first time since the beginning of Britain’s nationwide Covid-19 lockdown. As a result, Sterling traders have become more optimistic about the nation’s economic recovery. GBP has also benefited from hints...

Pound Sterling (GBP) The Pound continued to see mixed movement across the board today. While the British currency gained against falling risk-correlated currencies, it fell against safer currencies which became more appealing after gloomy forecasts from the Federal Reserve. Market concerns over Britain’s handling of the coronavirus,...

<h3>Pound (GBP)</h3> The Pound (GBP) suffered today following Thursday evening’s release of the UK GfK Consumer Confidence report, which fell to 10-year lows at -36. Joe Staton, GfK's client strategy director, commented on the report: ‘Against a backdrop of falling house prices, soaring jobless claims, and with no sign...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell today following comments from former Brexit Secretary Dominick Raab that Boris Johnson, the current Tory leadership favourite for next Prime Minister, would likely block attempts to prevent a no-deal Brexit. Mark Carney, the Governor of the Bank of England, also sounded a dovish...

<h2>Pound (GBP) Falls as UK Could see Slowest Consumer Spending Growth in Six Years</h2> The Pound Sterling (GBP) slumped against a handful of currencies as the UK currency remained gripped by fears the country would crash out of the European Union on 31 October without a deal. Meanwhile, the EY ITEM Club also revealed that...

<h2>Pound (GBP) Falls as BoE Leaves Interest Rates Unchanged</h2> On Thursday afternoon, the Pound slumped against a handful of currencies following the release of the Bank of England’s (BoE) interest rate decision. The bank left interest rates unchanged at 0.75%. However, the bank’s meeting minutes dampened...

<h2>Pound Sterling (GBP)</h2> The Pound rose today after Tory MPs voted on their future leader, with Boris Johnson, the former Foreign Secretary and hard-Brexiter, securing the majority of 114 votes. This has caused some relief for Sterling investors as the political deadlock has eventually shifted, although with Boris...

<h2> Pound (GBP) Slumps as UK Manufacturing Output Falls to 17-Year Low</h2> The Pound (GBP) slumped on Monday after data revealed the UK economy shrank by -0.4% in April, and in the three months to April, GDP rose by 0.3%. Added to this data showed that the UK’s car manufacturing sector fell by 24% thanks to Brexit car...

<h2>Pound Sterling (GBP)</h2> The Pound remained steady against many of its competitors today on a lack of UK economic data, while Mark Carney, the Chair of the Bank of England, failed to make any comments on monetary policy, relieving some Sterling traders as expectations were that he would take a dovish tone. Michael Gove,...

<h2>Pound Sterling (GBP) Flat on Disappointing Economic Data and Brexit Anxieties</h> The Pound (GBP) remained subdued on Tuesday following a disappointing UK construction PMI which saw the index slump to a 13 month low. The Markit construction PMI survey revealed that clients held back on major spending decisions due to...

Pound Sterling (GBP) The Pound has fallen by -0.3% against the US Dollar today, in addition to trading tightly against the Euro. This disappointing performance has been caused by remarks from Bank of England (BoE) policymaker Jonathan Haskel, who will be starting work in September this year. Mr Haskel will be replacing hawkish...

Pound Sterling (GBP) Sterling saw broad and strong gains on Thursday, as investors reacted to a split in votes from Bank of England (BoE) policymakers that economists had not anticipated. While the BoE was expected to leave monetary policy frozen – and ultimately did – more members of the BoE Monetary Policy Committee (MPC) than...

Pound Sterling (GBP) The Pound has had a volatile week, as the latest UK data has given investors a mixed idea of whether a potential 2018 interest rate hike from the Bank of England (BoE) is becoming more or less likely. UK inflation and wage data disappointed investors earlier in the week, but Sterling demand was bolstered by a...

Pound Sterling (GBP) The Pound has had a rough day of trading today, having been battered by poor domestic data and trader interest in other currencies. This has led to losses against the Euro and US Dollar, along with most other peers. On the home front, the pace of wage growth in the UK has been reported to have slowed during...

Pound Sterling (GBP) This week has seen the Pound put in a mixed performance against major rivals. While it was supported against some other currencies due to solid UK services data, Brexit jitters have been enough to drag it lower against others. On Thursday, fresh Brexit uncertainties left the Pound unappealing, preventing it from...

Pound Sterling (GBP) On a busy day for UK political and economic news, the Pound has risen by 0.5% against the Euro but dropped by -0.3% against the US Dollar. Elsewhere, Pound movement has been just as mixed, showing how today’s news has unsettled Sterling traders. On the plus side, a recent Bank of England (BoE) financial...

Pound Sterling (GBP) Despite seeing a brief boost following hawkish Bank of England (BoE) comments on Wednesday, the Pound trended limply for most of Thursday’s European session – in many cases near its weekly lows. BoE chief economist Andy Haldane argued earlier in the week that the bank could be pressured into hiking UK interest...

Pound Sterling (GBP) The Pound saw volatile trade on Monday as the first day of formal Brexit negotiations between Britain and the EU finally began. UK Brexit Secretary David Davis indicated that he aimed to make negotiations ‘positive and constructive’ as negotiators looked to set out a Brexit timetable and decide on the key...

Sterling The Pound (GBP) was met by increased volatility on Thursday as general election jitters caused investors to treat Sterling with increased caution. Despite the majority of polls suggesting that the Conservatives are likely to extend their gains following today’s vote, markets are remaining at arm’s length for now, with the upset...

Pound Sterling (GBP) The Pound’s advance on Wednesday afternoon was triggered by an earlier Opinium poll, which predicted a 7-point election lead for the Conservatives. This was considered a more stable estimate than a prior Survation poll, which forecast a single point difference between the Tories and Labour. Most of Thursday could...

Pound Sterling (GBP) Pound exchange rates saw mixed movement last week. The currency has become increasingly jittery with mere days to go until the UK general election and polls showing a wide variety of possible outcomes. Some polls continue to show the Conservatives will win a comfortably majority, while others suggest the race between...

Pound Sterling Although the Pound’s bullishness eased somewhat after Monday’s particularly strong gains it still remained on a stronger footing against many of its rivals. While new government debt was found to have risen by 9.1 billion Pounds in May this was overshadowed by ongoing Brexit speculation. Confidence was boosted further by...

<b>Pound Sterling (GBP) </b> During Monday’s European session the Pound surged across the board, rising above 1.29 against the Euro and 1.47 against the US Dollar. The appreciation can be linked to the latest EU referendum opinion polls. The polls suggest that the UK will vote to remain a member of the European Union on June...

<b>Pound Sterling (GBP)</b> The British Pound has seen significant price swings during Tuesday’s European session as traders react to opinion polls and newspaper articles suggesting that the UK will vote to leave the European Union on June 23rd. Sterling implied volatility has reached a record-high with traders so reactionary...

The US Dollar to Canadian Dollar (USD/CAD) exchange rate has dropped throughout the week due to positive Canadian news and strong risk sentiment. However, the US Dollar began to recover from its lows on Thursday as oil prices slipped on profit-taking. US Dollar (USD) Recovers From Lows The US Dollar has underperformed across the board...

Sterling A report released on Friday signalled a welcome boost in the UK services sector, trumping forecasts for May. The Pound was unable to make substantial gains, however, as risk sentiment dominated currency movement. After April’s three-year low of 52.3, the services sector rebounded to a healthy 53.5. A third of UK businesses claim...

Pound Sterling Although the outlook of the UK economy seems to remain mixed at best this did not prevent the Pound from regaining ground against many of its rivals on Thursday morning. Despite the latest Construction PMI showing a dip in sector growth from 52.0 to 51.2 this was not enough to keep Sterling on a downtrend. Following the sharp...

Pound Sterling (GBP) On Monday evening the Pound dived versus its major peers in response to dovish comment from Bank of England (BoE) Chief Economist Andy Haldane. Haldane stated that there was an equal chance that monetary policy could go in either direction, with a rate cut just as likely as a rate increase. Haldane also warned against...

Pound Sterling (GBP) After rallying to a strong position over the course of last week, thanks to heightened speculation of a Bank of England (BoE) interest rate increase, the Pound softened on Monday. The depreciation can be linked to traders’ buying-profits after the recent surge opened up some attractive selling opportunities. Also...

Pound Sterling (GBP) With a complete absence of domestic data to provoke changes, the Pound is generally holding steady versus its major peers on Friday. A fractional appreciation can be linked to speculation that Prime Minister David Cameron will have more success with persuading European Union finance ministers to reform Britain’s...

Pound Sterling (GBP)\r\nHaving edged lower on Wednesday after BBA Loans for House Purchase saw May’s mortgage approvals come in below forecast, the Pound is generally holding steady versus its peers on Thursday. Traders are showing a reluctance to invest in the Pound ahead of today’s European Union meeting in Brussels. British Prime...

Pound Sterling (GBP)\r\nAfter a period of depreciation following a spate of trader profit-locking, the Pound advanced towards the end of Tuesday’s European session and into Wednesday morning. The appreciation, which saw the Pound reach a fresh 4-week high against the common currency, was initiated by hawkish comments from Bank of England...

Pound Sterling (GBP) Thanks to comparatively positive domestic data results over the course of last week, the Pound advanced versus the majority of its most traded peers. With ecostats pointing towards a quarter of better-than-expected growth, futures traders have brought forward bets as to the timing of a Bank of England (BoE) rate hike....

Pound Sterling (GBP) After British labour market and retail sales data printed positively, the Pound strengthened versus many of its major peers. Futures traders are bringing forward bets as to the timing of a Bank of England (BoE) benchmark interest rate hike, given that inflationary headwinds are easing. Friday has seen the British asset...

Pound Sterling (GBP) The Pound rallied versus its major peers on Wednesday after positive labour market data stoked bets that the Bank of England (BoE) will hike the cash rate before the close of the year. Of particular note was a robust pickup in average earnings which will likely have a positive impact on consumer confidence and encourage...

Pound Sterling (GBP) Having strengthened on Tuesday, despite concerns over a sustained period of low inflation in the UK, the Pound is holding a strong position on Wednesday. The initial appreciation was sparked by consumer prices having moved away from negative territory in May, something which Bank of England (BoE) officials had...

Pound Sterling (GBP) As traders await Consumer Price Index data, the Pound edged higher versus many of its major peers. Having dipped into deflationary territory previously, Bank of England (BoE) officials will be hoping for a rise to inflationary territory, as Governor Mark Carney reassured that deflation was temporary and nothing to be...

Pound Sterling (GBP) After the Office for National Statistics (ONS) stated that they have a new way of calculating construction output, the Pound strengthened versus its major peers on Friday. Construction output was upwardly revised throughout 2014 and in the first-quarter of 2015, British Gross Domestic Product was upwardly revised in...

Pound Sterling (GBP) The Pound softened on Thursday in response to disappointing domestic data and news that Chancellor George Osborne intends to sell the government’s stake in the Royal Bank of Scotland at a significant loss. Once traders had digested this news, the Pound gradually recovered amid fears that the depreciation was overdone....

Pound Sterling (GBP) Having broadly appreciated on Wednesday in response to the upwardly revised NIESR Gross Domestic Product Estimate, the Pound edged lower on Thursday. The depreciation can be attributed to the RICS House Price Balance which came in at 34% in May, missing the median market forecast 36%. The Pound also declined after...

Pound Sterling (GBP) After Europe’s largest bank, HSBC, stated that they intend to cut 8,000 UK jobs and relocate their headquarters away from London, the Pound softened versus its major peers. The Pound continued to trend lower on Wednesday morning as traders await key domestic data, including the Gross Domestic Product estimate. Today...

Pound Sterling (GBP) \r\nAfter a report on Friday showed that Britons expected inflation to rise significantly within the next 12 months, the Pound strengthened versus many of its currency rivals. Sterling held gains over the weekend thanks to the prospect of a late-2015 interest rate rise should inflation match expectations. The Pound is...

Pound Sterling (GBP) As traders await British trade balance data, due for publication later on Tuesday, the Pound softened versus many of its most traded currency rivals. The depreciation can be attributed to less-than-ideal sales data. BRC Like-for-Like Sales came in at 0.0% in May despite the median market forecast for an annual increase...

Pound Sterling (GBP) After the Bank of England (BoE) opted to hold the cash rate, the Pound advanced as traders felt inaction was the best move at this juncture; particularly given recent poor results from manufacturing and services data. Friday has seen the Pound soften, however, thanks to a report from KPMG and the Recruitment and...

Pound Sterling (GBP) As traders await the Bank of England (BoE) interest rate decision, the Pound is generally holding steady versus its peers. But is there a decision to make? Given the recent lacklustre services and manufacturing growth; all evidence points towards a slow second-quarter. Therefore, the BoE are highly unlikely to make any...

Pound Sterling (GBP) After gaining in response to Tuesday’s positive domestic data, the Pound is holding steady versus its major peers – despite the latest UK data being less inspiring. On the year, the BRC Shop Price Index declined by -1.9% in May; a larger contraction than the median market forecast -1.8%. May’s Nationwide House...

Pound Sterling (GBP) After domestic data failed to impress on Monday, the Pound softened versus most of its currency rivals. Whilst the Manufacturing PMI showed output remained in growth territory, May’s seasonally-adjusted manufacturing output of 52.0 was slightly below the median market forecast figure of 52.5. Tuesday morning has...

Pound Sterling (GBP) In expectation of a better-than-forecast British Manufacturing PMI, the Pound edged higher against many of its closest rivals on Monday morning. The Confederation of British Industry (CBI) stated that they believe the UK economy grew at its fastest pace for 12 months so traders will be looking towards economic data...

Daily Currency Update Pound Sterling Considerable movement with the Pound to Canadian Dollar exchange rates have strengthened the ‘Sterling’ to 1.82, hitting a daily high but still standing at lower than predicted. Canada’s GDP also came in at lower than expected, which in turn weakened the ‘Loonie’. The ‘Aussie’ has crossed...

Pound (GBP) Friday sees an important day for the Pound with the release of GDP data at 9:30 GMT. The results are predicted to remain the same at 0.8% QoQ and 3.1% YoY. The Pound has recently been gaining against its major peers, however Friday morning sees it trading slightly lower in anticipation of the results. A report from...

Pound (GBP) Thursday will see Governor for the Bank of England Mark Carney and other policy members issue their financial recommendations for the UK economy. After Carney dampened the spirits of hopeful investors that the UK would be subject to interest rate rises in the near future, the Pound plummeted. However, Thursday sees it creeping...

Pound (GBP) Tuesday saw the Pound fall against the US Dollar as BoE Governor Mark Carney and other central bank officials commented on the recent speculation surrounding interest rate hikes. Although Carney was able to boost the Pound through the $1.70 threshold recently, he’s now caused Sterling to soften by delivering a speech which...

Pound Sterling (GBP) The Pound has fallen this morning after Bank of England representatives Charlie Bean and David Miles have quashed interest rate hike speculation by stating that it would be a last resort to cool Britain’s housing market. After reaching a recent five-year high against the US Dollar and exceeding the $1.70 threshold,...

Pound Sterling (GBP) The Pound is set to keep on its upward trajectory after reaching its five-year high recently and breaking the $1.70 US Dollar threshold. Friday will prove the most influential day this week with GDP data published, which is currently forecast to stay the same, at 0.8% QoQ and 3.1% YoY. Currency expert for the Bank of...

GBP, Pound Sterling Thursday saw the Pound close against the US Dollar at over $1.70 for the first time since the global collapse in 2008. The Pound reached $1.7062, the highest attainment since 21st October 2008. Predictions from economists suggest that the Pound will rise higher with the US Dollar being held down by low interest rates...

Pound Sterling GBP In the wake of Tuesday’s slightly below forecast inflation data for the UK, the Pound was trending in a softer position against the US Dollar. While the GBP/USD pairing also declined in response to an unexpectedly strong surge in US consumer prices, Sterling remained within touching distance of a five-year high against...

Pound Sterling GBP/USD While the Pound is retaining much of the strength derived from recent rate-hike speculation, the British asset did slide slightly against the US Dollar and trim its daily advance against the Euro to 0.14 per cent after the publication of below-forecast UK consumer price inflation figures. The CPI report showed that...

Pound Sterling GBP/USD – Trading in the Region of 1.6984 The tenuous situation in Iraq might be generating a risk-off environment, but the Pound isn’t feeling the pressure. The British asset continues to put on an impressive performance against its major rivals and remains trading in the region of a 19-month high against the Euro....

Pound Sterling GBP/USD – Trading in the Region of 1.6764 Ahead of the Bank of England’s interest rate decision the Pound was slightly stronger against its US rival thanks to a report detailing a surge in UK house prices in May. The housing report prompted this response from one industry expert; ‘Expectations of house price gains are...

Pound Sterling GBP/USD – Trading in the Region of 1.6751 The Pound was little changed against its major currency counterparts following the release of slightly better-than-forecast services and composite PMI. Sterling movement may be a little stilted following tomorrow's Bank of England rate decision unless the central bank takes...

Pound Sterling GBP/USD – Trading in the Region of 1.6750 After beginning the week in a stronger position against the Euro, the Pound extended its advance on Monday thanks to on-target manufacturing data for the UK. As both the Bank of England and European Central Bank are due to deliver their rate decisions this week, significant...

Pound Sterling GBP/USD – Trading in the Region of 1.6737 Both the GBP/USD and GBP/EUR exchange rates fluctuated on Tuesday as investors processed a mixed bag of reports. While the UK’s construction PMI came in slightly softer than estimated, UK house prices were shown to have surged to a new record high – surpassing even the...

With the Federal Reserve’s approach to quantitative easing drawing funds away from emerging market economies, the Thai Baht has weakened considerably over the last three months. In fact, the currency’s 6.1 per cent quarterly decline against the US Dollar is its most severe for almost 13 years. The Baht dipped modestly against its...

Pound Sterling GBP/USD – Little Changed, 1.5261 As the European session got underway the Pound was little changed against the Euro and US Dollar. The British currency was unaffected by data showing that UK house prices gained by less-than-expected in June, or a separate report showing that domestic consumer confidence hit its highest...

Despite the Indian central bank's efforts to tame volatility the Rupee weakened beyond the psychological level of 60 per Dollar, hitting a record low of 60.765. The Rupee’s weakness continued even after a report showed that the US economy grew by less-than-anticipated in the first quarter of 2013 – dampening speculation that the...

Pound Sterling GBP/USD – Trading Lower, 1.5326 The Pound may weaken against peers including the US Dollar and Euro as the European progresses following the publication of some mildly disappointing domestic growth data. Although quarter-on-quarter UK GDP came in at 0.3 per cent, as expected, year-on-year the economy expanded by 0.3 per...

Despite the latest data revealing that the US economy grew by less than expected in the first quarter of the year, the US Dollar broadly strengthened following yesterday’s stream of better-than-expected US news. Consequently, the Rupee weakened to a record low against the US Dollar, hitting 60.3775 Rupee per Dollar despite the Indian...

Pound Sterling GBP/USD – Trading Lower, 1.5413 Surprising strong US data caused the Pound to weaken modestly against the US Dollar during the local session. The British currency was little changed against the Euro as European markets opened this morning, but Sterling fluctuations may occur in response to Chancellor of the Exchequer...

The Thai Baht advanced to 31.02 Baht per Dollar, its strongest level for a week, after the Bank of Thailand continued to intimate that it will intervene in order to prevent the currency weakening further. On several occasions the central bank has stated that it is prepared to take action if the currency does not halt or pare the descent...

Pound Sterling GBP/USD – Trading Higher, 1.5443 With the number of loans for house purchases far exceeding estimates in May, the Pound was slightly stronger ahead of a UK debt sale and Mervyn King’s final address as Bank of England Governor. While these factors could cause additional Sterling fluctuations, investors will largely be...

With the appeal of higher-risk and emerging market currencies severely knocked by the expectation that positive US economic data could inspire the Federal Reserve to begin tapering easing in the months ahead, the Mexican Peso posted a staggering five-day drop of 4.5 per cent against the US Dollar. This was the South American currency’s...

Pound Sterling GBP/USD – Trading Lower, 1.5364 Sterling slipped to a more than two-week low against the US Dollar as the European session began. With the sale of UK government bonds looming the Pound also declined against the Euro. The biggest cause of Pound fluctuations in the week ahead is likely to be the Bank of England’s Financial...

Over the course of this week emerging-market and Asian currencies have been severely affected by US news. The Federal Reserve restating its commitment to bringing quantitative easing to an end sent higher-risk assets tumbling, with Asian currencies falling by the most for almost two years over the past five days. As industry expert...

Pound Sterling GBP/USD – Slightly Higher, 1.5485 The Pound benefited yesterday from the release of better-than-expected UK retail sales figures and may post modest additional gains today as the UK budget deficit was shown to have narrowed in May. Economists are now intimating that Chancellor of the Exchequer George Osborne will meet his...

Global markets were existing in a state of suspended animation prior to Federal Reserve Chairman Ben Bernanke’s fiscal policy speech. After he announced that the Fed would be tapering quantitative easing in line with US economic growth, with a view to bringing it to an end completely by mid 2014, the currency market went haywire....

Pound Sterling GBP/USD – Trading Lower, 1.5420 Although the Pound fell to a two-week low against the US Dollar following the Federal Reserve’s policy announcement, the British currency fluctuated slightly this morning as UK retail sales data greatly exceeded economist’s expectations. This afternoon’s US news could cause further...

After a lack of interest resulted in the Finance Ministry scrapping plans for the sale of 15-year Ruble debt, the Russian currency tumbled by 0.8 per cent against the US Dollar, hitting 32.2525 Rubles per Dollar. The sale of 10 billion Rubles of 15-year bonds was due to take place today, but was prevented from going ahead by a shortage of...

Pound Sterling GBP/USD – Trading Lower, 1.5652 The Pound continued to edge away from the four-month high recorded against the US Dollar last week as UK inflation was shown to have accelerated by more than expected in May. Although investors are largely focusing on developments in the US, today’s release of minutes from the Bank of...

Yesterday the Mexican Peso tumbled by 1.3 per cent against the US Dollar before extending its decline by 0.8 per cent during local trade. However, comments issued by Mexico’s President Enrique Pena Nieto during a news interview allowed the currency to modestly rebound. The Peso strengthened to 12.8270 from 12.8201 after Pena Nieto...

Pound Sterling GBP/USD – Trading Lower, 1.5696 Before UK CPI figures were published the Pound dipped against the ‘Greenback’. Economists expected today’s report to show that consumer price inflation accelerated in May. However, month-on-month and year-on-year CPI exceeded economist’s expectations so the Pound is likely to...

After the People’s Bank of China opted to raise its reference rate to a fresh record of 6.15980, the Chinese Yuan climbed by the most for three weeks against the US Dollar. The PBOC adjusted the Yuan’s reference rate by 0.01 per cent. During local trade the Yuan strengthened to 6.1250 per Dollar, however strategist Khoon Goh...

Pound Sterling GBP/USD – Trading Higher, 1.5713 Last week the Pound hit a four-month high against the US Dollar and the British currency was able to consolidate recent gains this morning as an industry report revealed that the asking price of UK homes rose this month. Sterling was little changed against the Euro and is unlikely to...

The Krone advanced to 7.6536 Krone per Euro this morning in response to assertions that Norway is prepared to increase stimulus if the slowdown in the Eurozone continues to have a negative impact on the nation’s growth. Norway’s Finance Minister Sigbjoern Johnsen recently stated: ‘To be faithful now, in a more turbulent situation,...

Pound Sterling GBP/USD – Trading Lower, 1.5664 The Pound briefly strengthened against the US Dollar as data showed that UK house prices rose to a record high last month. Although Sterling has since dropped away from the four-month high achieved yesterday, it continues to benefit from a series of better-than-expected pieces of UK data....

Indian Inflation might be softening, and economic growth may have slumped to a decade low, but the Reserve Bank of India is unlikely to lower policy rates when it meets on Monday. Economists are largely expecting that because of a concerning current account deficit and a weak rupee upping the cost of imports the Indian central bank will...

Pound Sterling GBP/EUR – Trading Lower, 1.1737 Yesterday stronger than anticipated UK employment data allowed the Pound to turn bullish, and the British currency advanced on several of its main rivals. However, although Sterling is little changed against the US Dollar it did slip against the Euro as the European session began. The...

Overnight Turkish police clashed with protesters taking a stand in Taksim Square. Volleys of tear-gas were fired and water cannons were repeatedly set off, dispersing the crowd of demonstrators. This morning municipal workers set out to clean-up the iconic Turkish landmark, banishing litter and graffiti. As some measure of calm...

Pound Sterling GBP/USD – Trading Higher, 1.5661 As the European session progresses the Pound is likely to benefit from the latest UK employment figures, which showed that jobless claims declined by more than anticipated last month. Although the UK unemployment rate held at 7.8 per cent the economy average weekly earnings in the three...

Although Bank Rossii made its largest foreign currency sales for a year, the Ruble still shed 0.7 per cent against the Russian central bank’s Dollar-Euro basket, falling to 37.2180. According to two industry experts, when the Ruble’s exchange rate weakens beyond 36.65 against the basket the central bank intervenes but Bank Rossii’s...

Pound Sterling GBP/USD – Trading Lower, 1.5539 Sterling may fluctuate this morning as year-on-year UK manufacturing production was shown to have declined by more than forecast in April, although industrial production posted an unexpected 0.1 per cent month-on-month gain. Additional Pound movement is likely to occur this afternoon...

As Turkish protesters were issued a stern warning by the nation’s Prime Minister the Lira plummeted by 1.1 per cent, the currency’s most significant drop against the US Dollar for over 12 months. The Lira hit 1.8962 against the US Dollar after PM Recep Tayyip Erdogan made an ‘uncompromising’ statement. After visiting two...

Pound Sterling GBP/USD – Trading Lower, 1.5501 After hitting a three and a half year high against the US Dollar last week, the Pound modestly weakened against its US peer this morning. Sterling was little changed against the Euro as a BDP LLP survey revealed that the UK economy is showing signs of recovery. US Dollar USD/GBP –...

The Canadian Dollar has strengthened by 0.7% against its US relation after the Canadian economy added the largest amount of new jobs in a decade and as unemployment fell. According to statistics Canada, employment rose by 95,000 in May smashing economist expectations by triple. The rise is the biggest since August 2002 with the jobless...

Pound Sterling GBP/USD – Trading Higher, 1.5580 After being boosted earlier in the week by a stream of better-than-expected UK economic data the Pound strengthened against the majority of its currency rivals yesterday as the Bank of England left rates and policy unaltered. This morning data has shown that the UK posted a smaller than...

The Canadian Dollar has weakened against its US relation after the Bank of Canada’s new governor Stephen Poloz told lawmakers in Ottawa that he expects the country’s economy will be supported by a recovery in demand for Canadian exports. Poloz also told policy makers that he won’t be giving a ‘running commentary’ on whether the...

Pound Sterling GBP/USD – Trading Higher, 1.5334 Yesterday’s better-than-forecast UK Services PMI pushed the Pound to a four-week high against the US Dollar. Sterling also strengthened against the Euro as investors await the outcome of today’s Bank of England policy meeting and rate decision. US Dollar USD/GBP – Trading Lower,...

The Lira has fallen against the US Dollar today as bond yields rose in response to the anti-government protests which have been rocking Turkey for the last five days. According to some reports, tear gas and water cannons were used by police to disperse demonstrators last night. A 22 year old man died as a result of injuries sustained at...

Pound Sterling GBP/USD – Trading Higher, 1.5334 In a week of surprises, the UK posted yet another piece of unexpectedly strong economic data this morning. The latest figures have shown that services PMI climbed to 54.9 in May, considerably better than the advance to 53.1 expected by economist. This news will bolster the Pound in the...

With the Peoples Bank of China strengthening the Yuan’s reference rate to a record the Yuan was able to climb for a second day. After the central bank raised the Yuan’s reference rate by roughly 0.11 per cent (to a record 6.1735 Yuan per Dollar) the currency achieved 6.1286 against its American rival – just shy of last week’s 20...

Pound Sterling GBP/USD – Trading Higher, 1.5290 The Pound is likely to extend recent gains in the hours ahead as yesterday’s better-than-anticipated manufacturing PMI was followed by today’s construction PMI data, which showed an unexpected return to growth in May. Although economists expected the index to rise to 49.8 it actually...

As the International Monetary Fund asserted that the strength of the Krona posed no real danger to Sweden’s economic recovery, and data was published showing that Swedish PMI climbed in May, the Krona strengthened against its peers. In recent months concerns have been raised regarding the adverse impact the Krona’s gains have had on...

Pound Sterling GBP/USD – Trading Higher, 1.5262 A far-better-than forecast UK manufacturing PMI result allowed the Pound to post widespread gains this morning. In May the manufacturing index rose from 49.8 to 51.3 – taking the figure above the 50 mark which separates growth from contraction. The result was significantly better than the...