Posts Tagged ‘Euro’
EU Debt Crisis Deal
The Euro has appreciated following the EU summit deal on the Eurozone debt crisis. The agreement came after prolonged late night talks and for the time being has convinced the financial markets they have a response to the economic crisis. The deal will focus on 3 key points:
Firstly, private banks will be asked to accept [...]
Bank of England Minutes
Posted in Currency News Currency Updates by mporter
The Pound continues to trade either side of 1.14 against the Euro and around 1.57 against the US Dollar following the release of this morning’s Bank of England minutes.
The minutes showed that the Monetary Policy Committee (MPC) voted unanimously in favour of increasing its current Quantitative Easing Asset Purchase Programme by a further £75bn [...]
European Sovereign Debt Crisis
Posted in Currency News Currency Updates by mporter
The European sovereign debt crisis continues to pose a significant threat to the recovery of the Euro-zone and to the wider global economy. The €109bn bail-out agreed in July for Greece may have averted an immediate significant Greek default and contagion spreading to Ireland, Italy, Portugal, and Spain but the Euro-zone continues to face significant [...]
BoE and ECB
Posted in Currency News Currency Updates by mporter
The Pound has appreciated against the Euro following today’s Bank of England and European Central Bank (ECB) interest rate announcements. Both Banks kept their interest rates on hold at 0.50% and 1.50% respectively.
However, in the following ECB press conference, ECB president Jean-Claude Trichet struck a more cautious tone, warning that the Euro-zone economy will grow [...]
Currency Update
The Pound has slipped against the US Dollar and the Euro following comments yesterday from Bank of England Monetary Policy Committee member Martin Weale. Weale stated that the UK risked slipping back into recession and that in his opinion the Bank’s growth forecast of 2.8% and 3.2% for 2011 and 2012 may be too optimistic.
The [...]
BoE Minutes & UK unemployment data
Posted in Currency News Currency Updates by mporter
The Pound has fallen this morning following the release of Bank of England Minutes and UK employment data. The Pound now trades back below 1.14 against the Euro and below 1.64 against the US Dollar.
The Bank of England Minutes revealed that all nine members of the Monetary Policy Committee (MPC) voted to keep interest rates [...]
BoE & ECB
Posted in Currency News Currency Updates by mporter
The Bank of England and the European Central Bank have both left their monetary policies unchanged today at 0.50% and 1.50% respectively as growth slows and the European debt crisis spreads to Italy and Spain.
The Pound is up against the Euro trading between 1.14 – 1.15 and in the region of 1.63 against the US [...]
The Pound has remained stable …
Posted in Currency News Currency Updates by mporter
The Pound has remained stable following the release of July’s Bank of England Monetary Policy Committee (MPC) minutes, trading at 1.13 against the Euro and at 1.61 against the US Dollar on the interbank market.
The minutes showed that the MPC remains split, with 7 members voting to keep interest rates unchanged at 0.50% whilst 2 [...]
Sterling falls following dovish Bank of England
Posted in Currency News Currency Updates by mporter
The Pound has depreciated this morning (22/06/11) following the release of the latest minutes from the Bank of England Monetary Policy Committee (MPC). The minutes indicated that the Bank of England is less likely to raise interest rates this year, which makes Sterling less attractive to investors seeking higher yielding currencies*.
The minutes show that out [...]
UK Inflation
Posted in Currency News Currency Updates by mporter
The Pound has spiked higher this morning (17/05/11) following the release of higher than expected UK inflation data. The Consumer Price Index was up month on month at 1.0% and up year on year at 4.5%, compared to 0.3% and 4.0% respectively last month. UK inflation remains stubbornly above the 2% target and the Bank [...]
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