The 12-year high in a consumer confidence reading for the UK failed to prevent sterling from falling for the second day in the week as the US dollar remained firm after the Fed indicated that it has no plans to depreciate the greenback. Caution ahead of the UK GDP data later in the day also weighed … Continue reading
Monthly Archives: March 2015
Fundamentals Out – Semantics In.
The pound moved higher against the softer dollar on Friday after lacklustre U.S. economic reports and cautious remarks on interest rates by Federal Reserve Chair Janet Yellen. Cable was up 0.29% to 1.4893 in late trade. Sterling received a boost after Bank of England Governor Mark Carney said the next move in interest rates is … Continue reading
Dollar strengthens overnight!
U.K. retail sales rose more than economists forecast in February as tumbling inflation boosted consumer confidence. The volume of sales including auto fuel rose 0.7 percent from January, the Office for National Statistics said in London yesterday. Economists forecast a 0.4 percent increase, according to the median estimate in a Bloomberg News survey. It was … Continue reading
U.S. Economic Data Weakens Dollar
The UK currency made back losses versus the dollar overnight, helped by weaker than expected US economic data and a bullish tone from BoE member David Miles with regards to UK interest rates. The pound has been as low as 1.4832 only yesterday, but a cent gained in its favour has now seen cable recover … Continue reading
Dollar Steadies But Questions Abound.
The pound closed in New York last night at $1.4850 after a volatile session which had seen the rate rally to an intraday high of $1.4984 on the initial reaction to US CPI release, only to reverse sharply to $1.4852 before drifting further through the US afternoon to a low of $1.4843. In the Asian trading … Continue reading
Sterling shows weakness ahead of PMI and inflation data
The pound traded lower against the dollar early in Asia with the market waiting for PMI data for the manufacturing sector of major euro-zone economies and inflation data from the UK. Fed comments about a possible mid-year US rate hike failed to boost the greenback to any significant level as the same policymaker also lowered … Continue reading
A Moment of Clarity for Dollar Bulls?
The pound closed on Friday in New York at $1.4949 after sterling took full advantage of Friday’s sharp reversal in the dollar which saw the rate push up from earlier lows of $1.4722 to a post fix high of $1.4989. UK CBI trends data at 1100GMT provides the UK data interest this morning though most attention … Continue reading
Dollar Takes a Breath.
The pound closed in New York yesterday at $1.4754. Cable continued to correct the post FOMC spike high of $1.5155 through Thursday’s session, before getting an added knock lower as traders reacted to Bank of England Haldane’s dovish comments in a speech he gave to a business group in Rutland. A dollar recovery through the … Continue reading
Fed Puts Interest Rate Hikes in Play
The pound closed in New York yesterday at $1.4754. Cable continued to correct the post FOMC spike high of $1.5155 through Thursday’s session, before getting an added knock lower as traders reacted to Bank of England Haldane’s dovish comments in a speech he gave to a business group in Rutland. A dollar recovery through the … Continue reading
Fed Puts Interest Rate Hikes in Play
The pound’s reaction to the budget yesterday seemed to air on the cautious side as the drop seen initially in sterling came to a halt as GBP/EUR fell through the 1.38 level and cable traded below $1.47. The FTSE reacted on the positive side led by the energy sector after Chancellor Osborne announced tax concessions for … Continue reading
My Travel Wallet 