August 2013 News Archive

<h3>Pound (GBP)</h3> The Pound (GBP) struggled against its peers today despite UK CPI data for July beating forecasts and rising from 0.6% to 1%. However, with the figure well below the Bank of England’s (BoE) target of 2%, this failed to buoy confidence in Sterling. GBP also failed to benefit from Downing Street’s...

Pound Sterling (GBP) As yesterday’s UK growth rate data did little to surprise Pound investors, the Pound spend much of today being driven by rival currencies. Sterling remained lower against stronger currencies, but was able to rebound against weaker rivals like the US Dollar despite UK growth concerns. This week’s notable UK...

<h3>Pound (GBP)</h3> The Pound (GBP) rose today after the Bank of England (BoE) held its interest rate at 0.1%. However, the BoE also stated that Britain had fared better-than-expected from the Covid-19 crisis. In other UK economic news, today saw the release of the UK construction PMI for July, which beat forecasts and rose...

Despite some stronger than expected Eurozone data and weaker US data today, the Euro to US Dollar (EUR/USD) exchange rate has failed to advance or hold its ground. Investors are largely hesitant to make any big moves on the US Dollar ahead of tomorrow’s session, when many analysts expect big developments from the Federal Reserve at the...

<h2>Pound Sterling (GBP)</h2> The Pound fell against many of its peers today as Prime Minister Boris Johnson headed to Europe to renegotiate the Irish backstop with German Chancellor Angela Merkel and French President Emmanuel Macron. However, as both leaders are expected to reject the removal of the backstop, this has left...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell today following the publication of the RICS Housing Price Balance figures for July, which fell below forecast and sank to -9%. Meanwhile, no-deal Brexit fears rose as Prime Minister Boris Johnson’s main advisor, Dominic Cummings, is perceived as likely to push through...

<h2>Pound Sterling (GBP) Under Pressure as BoE Leaves Rates Unchanged</h2> The Pound continued to slump on Thursday as data revealed that July’s Markit manufacturing PMI was left stuck at a six-and-a-half year low of 48. Meanwhile, the Bank of England (BoE) left rates unchanged. However, in its last economic forecasts...

Pound Sterling (GBP) The Pound has fluctuated in value today, making losses against the Euro and US Dollar but advancing against the Australian Dollar. This varied movement comes before the release of high-impact government impact papers, which will detail plans on coping with a no-deal Brexit outcome. Sterling’s decline before...

Pound Sterling (GBP) The Pound (GBP) has risen against the Euro and the US Dollar today, thanks to a lull in Brexit-related warnings. A report from the Institute of Directors (IoD) has shown that business leaders are concerned about post-Brexit trade, but this hasn’t damaged demand for the Pound to the extent of the past two weeks’...

Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Up 0.9% on GDP Forecast The Pound has struggled against the New Zealand Dollar for most of this week’s trading, but today has seen GBP push through current headwinds and rise by 0.9% in the GBP/NZD pairing. This recovery in demand for the Pound has been partly caused by...

Pound Sterling (GBP) Pound Sterling has been in low demand today, falling by -0.3% against the Euro and trading tightly against the US Dollar. There has been little high-impact UK data out this week, so the Pound has instead been affected by growing concerns about the Brexit process. Suggestions that a no-deal Brexit is not only...

Sterling The Pound (GBP) fell against the majority of its peers in trade today as the Recruitment & Employment Confederation (REC) released its latest employer confidence data. The report suggests that firms are increasingly reluctant to invest and employ new workers in the face of rising Brexit uncertainty, with many businesses...

Pound Sterling (GBP) Last week’s UK Consumer Price Index (CPI) results from July continue to keep pressure on the Pound and leave the current unappealing. The report indicated that British inflation was slowing faster than expected, meaning pressure for the Bank of England (BoE) to tighten UK monetary policy was diminishing. With the...

Pound Sterling (GBP) While the movement has not been universal, the Pound has nonetheless advanced against the Euro and US Dollar today. Elsewhere, however, Sterling has struggled due to the future implications for the jobs market. The good news has been that UK unemployment has fallen to the lowest level in 42 years, while jobless...

Pound Sterling (GBP) The Pound has ended weekly trading in low demand, trading tightly against the US Dollar and declining against the Euro. This lacklustre movement is due to a lack of distinctive economic news, which has left the Pound and a number of other currencies rudderless. The Pound should leave the trading doldrums on...

Sterling The Pound (GBP) was met by volatility on Thursday as the UK released its latest trade balance figures. According to the ONS the UK’s trade deficit jumped from a downwardly revised £2.52bn to £4.56bn in June, reaching a new nine-month high as imports continued to outstrip exports. It wasn’t all doom and gloom for...

Pound Sterling (GBP) The afternoon’s Sterling movements have been negative in virtually all cases. The Pound has fallen by over -0.8% against the Euro and US Dollar, as well as dropping by more than -1% against the New Zealand Dollar and Japanese Yen. This spread of poor exchange rates has been triggered by a gloomy set of statements...

Pound Sterling (GBP) The Pound saw limp trade for most of today’s trade session. Optimism about this week’s manufacturing PMI has largely been priced into Sterling already and the day’s construction PMI fell short of expectations. Markit’s UK construction PMI for July was only expected to slip slightly from 54.8 to 54.5, but...

Pound Sterling (GBP) The Pound attempted to recover on Monday, and was able to advance across the board by the middle of the day as investors bought it higher after Friday’s plummet. On Friday, reports were published claiming that anonymous UK government sources had stated that Prime Minister Theresa May was sympathetic towards the case...

Pound Sterling A worse-than-expected result from the latest RICS House Price Balance has added to the UK’s economic woes. The index dropped one point further than expected to 5%, thanks to a retrospective downgrade in the previous month’s reading. Credit rating agency Moody’s has further lowered the outlook for the housing market with...

Pound Sterling Signs of a strong shock to the UK’s economy from the ‘Brexit’ vote have continued to materialise to weaken the British Pound today. The finalised Markit manufacturing PMI for July has been revised lower, with the index cut to 48.2 from earlier estimates of 49.1. The manufacturing index had initially been the only July...

Pound Sterling A significant improvement on the UK Consumer Confidence Survey for August this morning, with the index rising to 7 rather than remaining static at 4, was ultimately of limited influence on Sterling as it was soon eclipsed by the release of as-expected GDP figures. Less impressive than might have been hoped, this was enough to...

Pound Sterling Nationwide Housing Prices for the UK this morning posted a smaller than anticipated contraction, coming in at 3.2% rather than the forecast 3.1%, to offer some encouragement over the state of the domestic economy. In spite of this, and the FTSE 100 rallying once again at opening, Sterling has struggled to make gains against...

Pound Sterling A bit of positive data arrived for the Pound this morning, as the BBA Loans for House Purchase came in slightly stronger than expected to post an increase at 46,033. With the global stock market rout apparently not entirely over though after yesterday’s burst of optimism and resurgence, as the FTSE 100 dropped by 1.5% at the...

Pound Sterling Black Monday and global fears of an impending financial crisis were without a doubt the dominant influences on the currency, with the consequent 4.7% slump of the FTSE 100 weighing heavily on Sterling. Chances of the Bank of England (BoE) electing to raise interest rates before the end of the year were all but wiped out in the...

Pound Sterling With the boost from the unexpectedly positive UK Consumer Price Index all but gone this morning the Pound has been struck a serious blow by uninspiring Retail Sales data. Undermining any remaining trader confidence in the improved level of domestic inflation, the month-on-month and year-on-year figures fell short of...

Pound Sterling Although yesterday saw Sterling making strong gains across the board with a better than forecast UK Consumer Price Index, which showed inflation rising to 0.1% rather than remaining stagnant at 0%, the rally seems to be proving short-lived. Scepticism from economists has suggested that the result is anomalous rather than an...

Pound Sterling Some good news for the Pound came this morning as the UK Consumer Price Index surpassed expectations, rising to 0.1% instead of remaining at 0%. Demonstrating that inflation is now on the rise this data has prompted further speculation for a near-future interest rate hike from the Bank of England (BoE), with Sterling making...

Pound Sterling (GBP) In response to hawkish comments from Bank of England (BoE) Monetary Policy Committee (MPC) member Kristin Forbes hawkish comments, the Pound rallied versus its major peers. Forbes stated that she fears holding the cash rate low for longer will hinder the UK’s economic progress. As the European session progressed,...

Pound Sterling (GBP) The British Pound softened versus many of its currency rivals during Friday’s European session. This can be attributed to June’s Construction Output Data which failed to meet with estimates on both a monthly and a yearly basis. On the year, June’s Construction Output hit 2.6% growth; lower than the median market...

Pound Sterling (GBP) The British Pound dived versus its peers on Wednesday in response to the second consecutive month of rising unemployment. However, Sterling recovered losses during Thursday’s European session amid speculation that the downtrend was unjustified; especially given that wage growth still showed promising acceleration....

Pound Sterling (GBP) Wednesday’s British economic data produced mostly negative results, causing the Pound Sterling to decline versus many of its major peers. Of particular disappointment was British unemployment which grew by 25,000 between April and June. In addition, wage growth failed to accelerate in line with economists’...

Pound Sterling (GBP) The British Pound dived versus the majority of its currency rivals after the bank of England (BoE) kept rates on hold. Although most analysts expected the Monetary Policy Committee (MPC) to hold the cash, many predicted that more policymakers would dissent and call for an immediate hike. Only one MPC member, Ian...

Pound Sterling (GBP) In response to speculation that the government’s recent sale of shares in the Royal Bank of Scotland (RBS) will attract foreign investment, the Pound advanced versus many of its currency rivals. However, gains were halted after the UK Services PMI missed estimates of a drop from 58.5 to 58.0, with the actual result...

Pound Sterling (GBP) The British Pound edged higher versus most of its currency rivals on Monday morning after manufacturing output eclipsed economists’ projections. The British Manufacturing PMI came in at 51.9 in July; eclipsing the median market forecast rise from 51.4 to 61.6. However, demand for the Pound was little affected by the...

Pound (GBP) The Pound (GBP) is firm against the Euro (EUR) which has reached a two week low in the GBP to EUR exchange rate. With a lack of UK data publishing this week and in the beginning of next week, the Pound is left to fluctuate from the results of Eurozone publications. Forex expert Chris Turner stated: ‘The UK calendar is light...

Pound (GBP) The Pound (GBP) has made some gains versus the US Dollar (USD) on Wednesday, regardless of the disappointing revelation on Tuesday that the British Bankers Association (BBA) approved less mortgages than expected in July. The BBA Loans for Home Purchase figures only attained 42,792 in July, following June’s 43,180. Moreover...

Pound (GBP) In an extremely quiet week by way of UK data releases, the Pound (GBP) is likely to fluctuate in its exchange rates dependent on its counterparts statistics. The Bank of England (BoE) however have released statements claiming that any miscommunication with the public regarding the highly speculated interest rate hikes have been...

Pound (GBP) The Pound (GBP) has seen a tricky week with the prospect of a rally shrouding its performance in the first half of the week following slightly more hawkish remarks from the Bank of England, and a split vote from their latest bank rate decision. However, today may see any gains undone in the latter half of the week as UK Retail...

Pound (GBP) The Pound (GBP) has gained some strength in the currency market this week, following the remarks from Mark Carney on Sunday regarding interest rate hikes potentially occurring sooner rather than later. The Pound however, is the subject of discussion as debates regarding Scottish independence and currency heat up. Whilst some...

Pound (GBP) The Pound (GBP) is likely to feel the effects of the latest meeting minutes from the Bank of England (BoE) which have shown the first split vote on the prospect of interest rate hikes since July 2011. The meeting minutes released this morning have shown two members of the Monetary Policy Committee were in favour of increasing...

Pound (GBP) The Pound (GBP) could boost against other majors in the currency market today following the release of highly positive UK Gross Domestic Product figures which have surprised, jumping to 3.2% from the forecast 3.1%. Today’s data is utilised as a tool for indicating expansion and growth in the UK economy, as a measure of...

Pound (GBP) The Pound (GBP) has reached session highs of 1.6738 against the US Dollar on Monday, following a seemingly more hawkish Bank of England. Governor for the Bank of England, Mark Carney, has stated that economists need not be concerned with wage growth as an indicator for the UK interest rate hikes. Foreign exchange expert Adam...

Pound (GBP) The Pound (GBP) has sunk to a disappointing four-month low point in the currency market following yesterday’s Bank of England (BoE) Inflation Report. The report proved anti-climactic after it proved another unanimous vote by the Monetary Policy Committee (MPC) to keep interest rates in the UK the same as they have been since...

Pound (GBP) The Pound (GBP) has made significant gains against the Euro (EUR) in the latter three days, and is presently trading awaiting the Bank of England’s (BoE) Inflation Report. The Inflation Report is hoped to bring some clarity to the BoE’s plan for interest rate hikes in the UK which has faced much speculation in the past...

Pound (GBP) Tuesday has seen the publication of the British Retail Consortium Like-for-like sales, which have shown a 0.3% drop in July. This came as a disappointment as economists had forecast a rise of 0.9%, a hope of bettering the June -0.8% figure. Wednesday however will prove highly influential for the Pound’s (GBP) exchange rate as...

Pound (GBP) The Pound (GBP) is presently trading at 1.6781 versus the US Dollar (USD), after slumping in recent weeks with poor UK economic figures. Moreover the US Dollar has sprung to popularity recently when the Federal Reserve became more hawkish in their remarks regarding interest rate hikes. The UK interest rate rises are still under...

Pound (GBP) The Pound (GBP) is presently trading up versus the US Dollar (USD) at 1.6819, and against the Euro (EUR) at 1.2554. Friday will see the publication of UK Construction Output and Trade Balance figures, which are forecast to prove favourable. The first half of next week will be quiet by way of UK data publishing; however,...

Pound (GBP) Thursday will see the Bank of England (BoE) Asset Purchase Target and Interest Rate Decision announced, which the currency market eagerly anticipates to assess the strength of Sterling. Much speculation presently surrounds the UK economy and its feasibility to withstand interest rate hikes. The Pound (GBP) has flopped in recent...

Pound (GBP) The Pound (GBP) has fallen against the US Dollar (USD) following UK Shop Price data which showed a steeper decline than anticipated on Wednesday. The Shop Price Index is used as an indication for inflation pressures and fell by -1.9% year-on-year, exceeding forecasts of a -1.6% decline. Wednesday will also see the publication...

Pound (GBP) Tuesday has seen the publication of highly influential former official, David Blanchflower’s, most recent paper claiming that the Bank of England (BoE) are failing to acknowledge the amount of slack left in the UK economy. Bloomberg stated Blanchflower’s suggestion: ‘The Bank of England is underestimating the amount of...

Pound (GBP) The Pound (GBP) has entered its fourth week of depreciation versus the firming US Dollar (USD), presently trading at 1.6825. Monday will see the release of UK Construction PMI, presently forecast to reach 62.0. Thursday however will be the most influential day for the Pound this week with the Bank of England (BoE) meeting to...

Pound Sterling The Pound recovered the losses it made against the US Dollar after the latest consumer confidence and house price data beat economist expectations. As a result Sterling is on track to make a monthly gain against all 16 of its major peers. Adding to the currency’s strength the British Chamber of Commerce raised its...

The Canadian Dollar has weakened against the US Dollar after data out of the USA showed that economic growth in the world’s largest economy accelerated at a faster pace than forecast in the second quarter of the year. The USA’s GDP expanded at an annual rate of 2.5% beating economist forecasts and increasing speculation that the...

Pound Sterling The Pound made a second day of gains against the Euro following yesterday’s speech to business leaders in Nottingham by Bank of England Governor Mark Carney’s. His comments failed to convince investors that the Central Bank will maintain interest rates at the current record lows. As a result the currency managed to...

The Indian Rupee has spent most of Wednesday’s session battling to avoid falling further against the US Dollar after it fell by its biggest margin in two decades as oil prices surged and the threat of conflict in the Middle East spooked investors. Economists are warning that if the Rupee does not halt its slide soon then India is...

Pound Sterling The Pound began the day weaker against both the US Dollar and Euro as investors waited to see whether Bank of England Governor Mark Carney would affirm his commitment to maintaining borrowing costs at record lows in a speech due later in the session. The currency has also been weighed upon by growing concerns that military...

The Turkish Lira has fallen to a record low of 2 to the US Dollar after speculation grows that Turkey may join a United States led coalition that is preparing to strike at Syria. As a result of the rumours the Lira nosedived against the US Dollar, the lowest level record since 1981. Turkey is expected to join forces with a number of other...

Pound Sterling The Pound has softened against the Euro and US Dollar in early trading. Sterling lost ground against the ‘Greenback’ as speculation continues to build that the Federal Reserve could begin tapering its monetary easing policy in September. The Euro gained ground after this morning’s data showed further signs of...

After the minutes of the latest Federal Open Market Committee meeting were published on Wednesday and showed that the majority of policy makers were backing the plan to begin tapering easing before the end of the year, the US Dollar broadly strengthened, advancing on peers including the Yen and Euro. The North American currency extended...

Pound Sterling GBP/EUR – Trading in the Region of 1.1698 Although the Pound began the day heading for a five-day decline against the Euro and US Dollar, the British currency is likely to strengthen in the hours ahead as UK GDP and export data exceeded expectations. Economists were anticipating growth of 0.6 per cent in the second quarter...

With interest rate concerns heating up in both Sweden and Norway, the Nordic country’s currencies have clashed. During European trading the Norwegian Krone sank to an almost nine-year low against its Swedish rival, weakening to 1.0712 Swedish Krona. The last time the NOK/SEK pairing was at this level was in the spring of 2004....

Pound Sterling GBP/EUR – Trading in the Region of 1.1698 Ahead of tomorrow’s UK GDP report Sterling lost ground against the US Dollar and Euro as both assets were supported by home grown developments. The Pound could continue softening against these peers in the hours ahead if this afternoon’s US data meets expectations. US...

As lower-than-anticipated domestic growth increased the likelihood of the Mexican central bank cutting interest rates the Peso advanced on its US peer, surging 0.8 per cent to 12.9745 Peso per Dollar. The 1.5 per cent gain in Mexican GDP in the second quarter was smaller than economists envisaged. The data was swiftly followed by the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1690 In a relatively quiet news day, UK public sector net borrowing figures are likely to be the main driver of GBP/EUR movement in the hours ahead, but US news is likely to inspire extensive market movement overnight. US Dollar USD/EUR – Trading in the Region of 0.7468 The...

Ahead of the release of policy meeting minutes from the most recent Federal Open Market Committee gathering, emerging market currencies like the Rupee, Rand and Baht are bearing the brunt of some significant shifts in sentiment. With some economists expecting the FOMC minutes to confirm that the tapering of US easing will begin in...

Pound Sterling GBP/EUR – Trading in the Region of 1.1736 As the local session began the Pound was trading close to a two-month high against the US Dollar. The British currency posted significant gains against the New Zealand and Australian Dollars overnight, but further Sterling fluctuations may be limited due to a lack of pertinent...

In what is becoming a recurring theme, the Rupee tumbled to yet another record low against the US Dollar during local trading. The emerging-market asset continues to bear the brunt of ongoing speculation regarding the Federal Reserve tapering stimulus in September, and the Reserve Bank of India’s best efforts to temper volatility appear...

Pound Sterling GBP/EUR – Trading in the Region of 1.1729 The Pound is maintaining its bullish relationship against peers including the Euro and US Dollar today, despite a report detailing an unexpected decline in UK home prices. Sterling remains supported by last week’s positive UK developments and is likely to continue trading in a...

India’s Rupee sank to a fresh record low against the US Dollar today as concerns rose that the steps taken by the Reserve Bank of India to curb the currency’s volatility will damage the nation’s appeal to investors. Earlier this week the central bank outlined plans to restrict foreign-currency outflows from local residents and...

Pound Sterling GBP/EUR – Trading in the Region of 1.1712 After a positive week for the UK the Pound is headed for its second consecutive five-day gain against the Euro and US Dollar. Sterling has advanced this week in response to several pieces of positive UK news, including retail sales and employment data. Pound fluctuations may occur...

The US Dollar advanced on peers including the Euro, Canadian Dollar and Indian Rupee during the North American session after being boosted by the news that US jobless claims dropped to their lowest level since 2007 – fuelling speculation that the Federal Reserve will opt to taper stimulus in the near future. The cost of living in the US...

Pound Sterling GBP/EUR – Trading in the Region of 1.1690 The expectation of a positive UK retail sales report supported the Pound against the Euro and US Dollar as European trading got underway. If sales rise for a third month, as forecast, Sterling’s upward momentum is likely to continue. US Dollar USD/EUR – Trading in the...

During the European session Switzerland’s Franc declined against the majority of its most traded currency rivals, notably softening to a month-low against the Euro after data revealed that the Eurozone had finally exited its record long recession. The 17-nation currency bloc posted quarter-on-quarter growth of 0.3 per cent in the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1639 While the Pound was supported yesterday by positive UK news, the British currency softened modestly against the Euro this morning as the German economy recorded larger-than-expected growth. Sterling volatility is likely to occur in response to UK employment figures and the Bank of...

Bank Rossii’s decision to move its trading band higher once more saw the Ruble weaken against the Euro-Dollar basket and hit 37.9613 – almost a four year low. The corridor for the Ruble against the basket was increased to 31.95-38.95 yesterday. This is the sixth time the central bank has upped its trading band since the end of June,...

Pound Sterling GBP/EUR – Trading in the Region of 1.1635 After a gauge of UK house prices surged to an almost seven-year high the Pound climbed to within touching distance of a month-high against the Euro. Whether the British currency is able to retain or extend recent gains largely depends on the outcome of today’s UK inflation...

With UK mortgage approvals improving in June and tomorrow’s home price data expected to show prices at a three year high, the Pound advanced on the Euro. According to the Council of Mortgage Lenders the number of UK home loans was up 15.7 per cent in June from a year earlier. Sterling strengthened to 85.86 pence per Euro. The British...

Pound Sterling GBP/EUR – Trading in the Region of 1.1626 Sterling put in a solid performance last week and could extend gains in the days ahead if UK data continues to trump expectations. Pound movement may be limited today due to a lack of influential domestic data, but tomorrow’s UK home price gauge is expected to trigger...

Commodity-driven and emerging market currencies have ended the week on a bit of a high as positive trade and industrial output data from China (the world’s second largest economy) spurred demand for higher risk assets. Thailand’s Baht rebounded from a month low against the US Dollar, strengthening to 31.23. The Asian currency was...

Pound Sterling GBP/EUR – Trading in the Region of 1.1617 Prior to the release of UK construction output and trade balance figures the Pound was in line to record a 5-day gain against the US Dollar and Euro. The currency could experience fluctuations in the hours ahead. US Dollar USD/EUR – Trading in the Region of 0.7475 As the...

Thailand’s Baht was able to achieve an almost four-week high against the US Dollar after appetite for higher-risk assets was boosted by better-than-forecast import/export data from China. China is one of Thailand’s biggest trading partners and the world’s second largest economy, so the news helped the Baht rebound from yesterday’s...

Pound Sterling GBP/EUR – Trading in the Region of 1.1600 After the Bank of England published its inflation report the Pound recovered from a brief dip and surged against its main rivals. As the European session began Sterling was heading for a seven-week high against the US Dollar and trading close to a month-high against the Euro....

Over the last eight months the Yuan has advanced by 1.8 per cent against the US Dollar. Today, with the People’s Bank of China supporting the Yuan’s reference rate, the currency achieved an almost twenty-year high against its American counterpart. The Chinese asset was also boosted by mounting speculation regarding the government’s...

Pound Sterling GBP/EUR – Trading in the Region of 1.1524 Although Sterling was able to climb against its peers yesterday in reaction to better-than-expected UK housing and industrial production data, the British currency weakened against the US Dollar and Euro as investors speculate on the outcome of today’s Bank of England inflation...

Although the Rupee was able to post a modest advance against the US Dollar at the beginning of the week (as the North American currency softened in response to disappointing employment figures) over the course of trade on Tuesday the Rupee sank to a fresh record low. India’s asset fell to a historic low of 61.80 against the US Dollar,...

Pound Sterling GBP/EUR – Trading in the Region of 1.1572 Sterling could extend gains today if UK industrial production data meets or exceeds estimates for an increase of 0.7 per cent in May. Already today a report has shown that UK house prices climbed for a sixth month in July. US Dollar USD/EUR – Trading in the Region of...

After all the steps taken by the Reserve Bank of India to temper the Rupee’s volatility it was actually US data which helped the currency post its most significant advance in two-weeks. On Friday US data showed that the world’s largest economy added less jobs than forecast in July, although the nation’s unemployment rate did decline...

Pound Sterling GBP/EUR – Trading in the Region of 1.1521 As the European session got underway the Pound continued to edge away from last week’s lows against the Euro and US Dollar. Sterling received another boost as trade continued and UK services PMI smashed estimates, coming in at 60.2 in July rather than the 57.4 expected. US...

Today’s US employment data has been a driving force behind market movement for the last 24 hours. Prior to the publication of US non-farm payrolls and the US unemployment rate the ‘Greenback’ was trading strongly against the majority of its currency rivals. Economists predicted that the US economy added 185,000 jobs in July,...

Pound Sterling GBP/EUR – Trading in the Region of 1.1448 Following yesterday’s Bank of England rate decision, the Pound recovered some ground against peers including the US Dollar and Euro. The British currency began the European session holding steady prior to the release of UK construction PMI but could advance in the hours ahead as...

In a full-on news day the fortunes of the Euro and Pound have reversed, with the Euro falling from its four and a half month high against its British counterpart and Sterling broadly strengthening. The Euro also fell from a six-week high against the US Dollar as the European Central Bank maintained rates at their current record lows, and...

Pound Sterling GBP/EUR – Trading in the Region of 1.1444 Positive Euro news saw the common currency broadly strengthen yesterday, and the Pound slumped to a four and a half month low against its European peer. However, the Pound was able to strengthen slightly against the US Dollar following the FOMC announcement.Today’s Bank of...