Cyprus News

Pound Sterling GBP/USD – Trading in the Region of 1.4895 The Pound continues to trade below 1.50 against the US Dollar following last week’s surprisingly dovish policy statement from the Bank of England. Although an absence of UK news is likely to limit Pound fluctuations today, tomorrow’s UK industrial production report will be of interest. US Dollar USD/EUR – Trading in the Region of 0.7793 Last week’s strong US non-farm payrolls report boosted the US Dollar before the weekend. The ‘Greenback’s bullish...

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 focusing on the US, and the FOMC’s two-day policy meeting. US Dollar USD/EUR – Trading Lower The US Dollar turned bearish against its peers as the imminent FOMC policy meeting bolstered...

With the ups and downs of the Eurozone crisis urging investors to European safe-havens, the Swiss National Bank was forced to but a cap on a rapidly strengthening Franc back in September 2011. By capping the currency the central bank hoped to protect the nation from deflation and recession. However, if the Franc moves to rise beyond the cap the SNB is ready and willing to take preventative action – even if it the result is its currency reserves becoming further engorged. When the Cyprus crisis rocked the Eurozone in March the...

Pound Sterling GBP/EUR – Trading Lower An absence of significant global economic news limited the Pound’s movement yesterday, but the British currency dropped to a two week low against the Euro this morning and further movement could occur today in response to a several pieces of key data. While UK industrial/manufacturing production and trade balance figures are of interest, investors will be looking ahead to the NIESR GDP estimate for March – due for release at 15:00 GMT. US Dollar USD/EUR – Trading Lower Federal...

The Swiss Franc is unchanged against the Dollar and Euro on Friday as investors attention is focused on the Japanese Yen after the Bank of Japan took the market by surprise by announcing a radical new monetary expansion plan to battle deflation. The Yen dropped by more than 3% against the ‘Greenback’ and plummeted to four year lows against the Australian and New Zealand Dollars after the Japanese Central Bank said that it will pump $1.4 trillion into the world’s third largest economy, with the plan to include raising purchases...

Pound Sterling GBP/USD – Trading lower The Pound slid against its US rival this morning prior to the Bank of England’s policy announcement. The central bank is largely expected to maintain its asset purchase target and hold the main interest rate at the record low of 0.5 per cent. Sterling also slid to its lowest level in over a week against the Euro as investors brace themselves for the release of UK Services PMI. The Pound is in line to experience significant movement in the hours ahead. US Dollar USD/JPY – Bullish In...

Although Cyprus and the International Monetary Fund reached an agreement which will see the IMF bequeathing the struggling island nation 1 billion Euros, the stability of the Eurozone is far from assured. In recent weeks the 17 nation currency bloc has battled a flood of concerns aside from the situation in Cyprus, including poor output and employment data and an uncertain political situation in Italy, and the troubles in the Eurozone have had globally reaching repercussions. Today Russia’s currency experienced its most...

Over the past twelve months the Krona has advanced by 6 per cent on the Euro. Although some measures now rate the Krona as too expensive, there are industry experts who argue that the currency remains undervalued and should continue to gain. In the wake of a series of major crises in the Eurozone (including last year’s Grexit threat and this year’s uncertainty regarding the political situation in Italy/the Cyprus bailout) the Krona, one of a limited number of currencies backed by an AAA rated government, has emerged as a European...

The Euro slumped to a five-week low against the safe-haven Yen after a string of less-than-impressive data releases for the 17-nation currency bloc. Of particular importance was the news that the unemployment rate in the Eurozone reached a record high of 12 per cent in February. January’s previously estimated unemployment rate of 11.9 per cent was also upwardly revised to 12 per cent by Eurostat. The current level of unemployment is the highest recorded in the currency-bloc since its formation. Meanwhile, manufacturing PMI for...

After gaining on the US Dollar for five days the Pound has lost ground against its American rival as manufacturing data for the UK failed to meet expectations. Although economists had forecast that a gauge of UK manufacturing, compiled by Markit Economics and the Chartered Institute of Purchasing and Supply, would show that the sector contracted for a second month in March the actual result was slightly worse than anticipated. Economists estimated that the gauge would rise from last month’s level of 47.0 to 48.7, but it only...