Posts Tagged ‘UK’
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 [...]
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 [...]
Interest Rates
Posted in Currency News Currency Updates by mporter
Today (07/04/11) as expected the European Central Bank (ECB) has raised its benchmark interest rate by 0.25% to 1.25%, the first such increase since July 2008. The Bank of England has kept interest rates on hold for the 25th month at their historic low of 0.5% and the Bank’s Quantitative Easing Asset Purchase Programme remains [...]
Stronger than expected UK PMI Services data
Posted in Currency News Currency Updates by mporter
Sterling has spiked higher today (05/04/11) following the release of stronger than expected Purchasing Manager Index (PMI) Services data. The PMI Services data is an indicator of the economic situation in the UK service sector. The reading of 57.1 was better than the expected reading of 52.5 and better than the previous reading of 52.6. [...]
Currency Matters
Posted in Currency News Currency Updates by mporter
The Pound has fallen today 23/03 following the release of minutes from the Bank of England showing that no further Monetary Policy Committee (MPC) members shifted to the rate hike camp at the March meeting of the MPC. Despite the higher than expected inflation reading released yesterday, there is still some uncertainty surrounding how quickly the [...]
UK GDP DISAPPOINTS
Posted in Currency News Currency Updates by mporter
The Pound has reacted negatively this morning to the revised UK GDP figures. Many analysts were hopeful that the disappointing UK GDP data numbers released at the end of January would be revised higher. However, the new data showed that the UK economy contracted by -0.6% in the final quarter of 2010 compared to the [...]
Currency Update – UK GDP
Posted in Currency News Currency Updates by mporter
Sterling has tumbled this morning following the release of UK GDP figures which were much worse than analysts had expected. The shock numbers showed that the UK economy shrank by 0.5% over the last 3 months of 2010. The severe weather seen in December dramatically hit GDP, particularly in the construction and service sectors. However, [...]
Better than expected…
The Pound has continued its recent recovery against the Euro and the US Dollar following the double bout of good news released earlier this week of better than expected UK GDP and S & P’s UK credit rating upgrade to AAA Stable. The Pound is now trading near 1.15 against the Euro and near 1.59 [...]
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