Archive for the ‘Currency Updates’ Category
Bank of England
Posted in Currency News Currency Updates by mporter
The Bank of England has today kept UK interest rates on hold at 0.5% and the Bank’s current asset purchase scheme known as quantitative easing also remains on hold at £200 billion.
The Pound continues to look firm against the US Dollar trading above 1.58 on the interbank market and against the Euro the pound trades [...]
UK GDP figures boost Sterling
This morning the Office for National Statistics released its latest UK GDP estimate. The estimate was better than market expectations at 1.1% quarter on quarter and at 1.6% year on year.
As a result the Pound has appreciated towards 1.54 against the US Dollar and 1.19 against the Euro.
Currency Matters – Euro
The Euro was boosted last week by the successful bond auctions by a number of Eurozone states. The demand was sufficient enough to ease concerns that Eurozone states would struggle to raise funds on the international markets.
As a result the Euro appreciated against the US Dollar pushing EURUSD through 1.30, and EURGBP through 0.84p. This [...]
Sterling update
The Pound has strengthened again following yesterday’s Budget and this morning’s Bank of England minutes. The minutes showed that whilst seven members of the Monetary Policy Committee voted to keep interest rates on hold at 0.5% one member voted for a 0.25% increase. The Bank of England also voted to keep its current Quantitative Easing [...]
GBPEUR hits the highest level since December 2008
The Pound is currently trading at its highest level against the Euro since December 2008. Please do not hesitate to contact the dealing team on 01695 581 669 for a live quote.
Currency Update – Post Election
Posted in Currency News Currency Updates by mporter
After Sterling’s initial bounce higher following the formation of a Conservative-Liberal Democrat coalition majority government the Pound has disappointed somewhat, particularly against the US Dollar which earlier slipped below 1.45.
The sell off in Sterling started following the Bank of England’s Quarterly Inflation Report which implied that UK interest rates would remain very low for some [...]
Currency Update
The Pound has spiked higher against the Euro, earlier breaking through interbank 1.17. Financial markets continue to be concerned that the €110 Billion Greek bailout package won’t be enough to prevent the crisis spreading to other vulnerable Eurozone states namely Portugal, Spain and Italy.
In the UK, markets will await the outcome of the general election, [...]
Currency Update – UK CPI
The Pound has strengthened this morning (20/04) following higher than expected UK inflation data. The official measure of inflation known as the Consumer Price Index (CPI) beat market expectations coming in at 3.4% year on year. As inflation remains above target it means it is more likely that at some point the Bank of England [...]
Currency Update
Posted in Currency News Currency Updates by mporter
Earlier today (07/04) the Pound hit its highest level against the Euro since the 24th February briefly touching interbank 1.1410 before settling in the mid-high 1.13s. The Pound is also trading above 1.51 against the US Dollar.
With the upcoming general election and the prospect of a hung parliament there is still much uncertainty about the [...]
GBP SPIKES HIGHER
Posted in Currency News Currency Updates by mporter
The Pound has spiked higher this morning following better than expected UK employment data. The UK jobless claims change dropped at its fastest rate since November 1997.
The Bank of England Minutes also released this morning at 09:30 showed that all nine members of the Monetary Policy Committee (MPC) voted to keep UK interest rates on [...]
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