Turkey News

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’ warnings. Sterling could fall against the Euro and US Dollar on Tuesday, in the event that a forecast-matching slowdown in industrial orders damages GBP demand. Euro (EUR) Greece has...

Pound Sterling GBP/USD – Trading in the Region of 1.6681 Before the publication of UK mortgage approvals figures the Pound was clinging to yesterday’s gains against the US Dollar but was little changed against the Euro. Sterling movement may be slightly restrained ahead of tomorrow’s British growth report. US Dollar USD/GBP – Trading in the Region of 0.5994 Yesterday the ‘Greenback’ experienced only modest movement as measures of activity for Chicago and Dallas fell short of expected levels. The US Dollar could...

Pound Sterling GBP/USD– Trading in the Region 1.6595 The Pound was little-changed against its major peers as UK house price data showed that home values surged for a 13th month. Sterling continues to derive support from yesterday’s UK growth figures but has edged away from Tuesday’s highs. US Dollar USD/GBP – Trading in the Region of 0.6026 With the Federal Open Market Committee’s policy announcement looming the ‘Greenback’ was slightly softer against the Pound and Euro and lost ground against emerging-market and...

Pound Sterling GBP/USD– Trading in the Region of 1.6477 The Pound pushed beyond the 1.20 mark against the Euro after data showed that UK house prices rose for an 11th consecutive month in December. US Dollar USD/GBP – Trading in the Region of 0.6068 The US Dollar touched a five-year high against the Japanese Yen as optimism rises that the US Federal Reserve will end its monetary easing programme by the end of 2014. Euro EUR/USD – Trading in the Region of 1.3744 The Euro is weaker against the Pound but little...

As a volatile week draws to a close the Lira was struggling to regain losses after falling to a record low in response to high-profile corruption concerns. The Lira plunged against all of its major peers and hit a record low of 2.0970 after shedding 1.2 per cent. After 14 members of the Turkish government were dismissed in the ongoing corruption saga the Lira was left in a precarious position. As one well-placed industry expert noted; ‘Political risk has increased considerably. It took a few days for foreign investors to...

Although the financial world is looking to the US and the upcoming Federal Open Market Committee announcement, other news has been inspiring currency movement over the last few hours. For example, the Euro advanced on all of its most traded rivals as a result of impressive ZEW economic sentiment surveys for Germany and the Eurozone. The reports showed that economic sentiment in Germany jumped to a seven-year high in November amid signs that the Eurozone’s largest economy continues to drive economic momentum in the currency bloc....

Although the US Dollar has broadly softened since the beginning of the week as a result of current and future Federal Reserve concerns, the Turkish Lira has still posted modest declines against its North American rival. The Lira experienced only slight fluctuations after the Turkish central bank opted to leave its three main interest rates unaltered. However, the central bank did adopt a wary stance in terms of fiscal policy adjustment. In a statement the financial institution said that the ‘committee will maintain the...

Overnight commodity-driven currencies, including the Australian Dollar and South Africa Rand, strengthened against their peers as China’s manufacturing sector expanded in August, boosting global trade prospects. And as the local session progressed on Monday emerging market assets like the Turkish Lira gained as fears of an imminent strike on Syria receded and the central bank implied that it will support the currency. The Lira rallied by 1.1 per cent, strengthening to 2.0158 Lira per Dollar, as the Governor of the central bank...

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 action against Syria will involve UK forces. US Dollar The ‘Greenback’ has made gains against the majority of its peers and soared to new record highs against the Indian Rupee and Turkish...

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 nations, including the USA and UK if the United Nations fails to decide on what action to take against Syrian President Bashar al-Assad’s regime, which is accused of using chemical weapons on...