The euro remained on the backseat for yet another day as the recent rise of the Dollar and fresh news from Greece weighed down on the currency that reached the 1.0900 support. While the Dollar is receiving more support as we mentioned above the news from Greece reiterate how complicated a solution to the Greek problem … Continue reading
Category Archives: Analysis
Dollar Rises vs Majors After FOMC
Sterling outperformed the euro yesterday as we saw GBP/EUR hit a week high as the currency pair traded through the 1.42 handle. There was also a decent move in cable as GBP/USD hit a 4 week high to push the currency pair towards the $1.57 handle. That move did not last however, as market participants started … Continue reading
Sterling slips to two-week low against resurgent euro
Sterling continued its 10-day decline against a resurgent euro yesterday, falling to its lowest in two weeks, as investors looked ahead to British growth data later in the week. With Chinese market turmoil and a slide in commodity prices throwing doubt over the strength of global growth, some sterling traders are starting to question whether the … Continue reading
Global Markets Splutter
Sterling eased against the dollar on Friday, its weakest weekly performance in three, after recent data disappointed and falling oil prices raised some doubts over when the Bank of England would hike interest rates. Sterling dropped to $1.5485, down 0.2 percent on the day, having hit $1.5469 earlier in the day — its lowest in … Continue reading
GBP/USD edges lower
The pound edged lower against the U.S. dollar, after the release of downbeat U.K. retail sales data, although hopes for a rate hike by the Bank of England later in the year continued to support. GBP/USD hit 1.5480 during European morning trade, the session low. The U.K. Office for National Statistics reported on Thursday that … Continue reading
Sterling see-saws after BoE minutes
Sterling briefly nudged higher on Wednesday after minutes from the Bank of England’s latest policy meeting suggested that more policymakers were edging towards voting for a first interest rate hike since before the financial crisis. Though all nine monetary policy committee members voted to keep rates at their record lows, for a number of them the … Continue reading
Euro Stages Comeback Against Majors
The pound is lower against the euro this morning as a combination of euro strength and mixed messages from BoE Governor Mark Carney saw GBP/EUE lower by about 1 cent. Previously it was thought that an interest rate hike would come at the end of the year, but now it sounds like Carney is trying to … Continue reading
UK Rate hike bets keep Sterling close to 7-1/2 year highs.
Sterling inched lower against the euro on Monday but was still close to a 7-1/2-year high against a trade-weighted basket of currencies, as investors bet the Bank of England will raise interest rates in early 2016. With no major data releases or speeches by policymakers scheduled for yesterday, currency traders focused instead on Wednesday’s minutes from … Continue reading
Dollar Bolstered by U.S. Rate Rise Hope
The pound edged lower against the dollar on Friday, pulling away from two-week highs hit earlier in the week, as upbeat U.S. economic data added to expectations for an interest rate hike this fall. GBP/USD hit highs of 1.5676 on Wednesday, the most since July 1, before subsequently consolidating at 1.5602 by late Friday, down … Continue reading
Europe Moves to Restore Funding to Greece
Sterling hit a 7-1/2-year high against a trade-weighted basket of currencies yesterday as traders bet the Bank of England would raise interest rates early next year, while euro zone monetary policy remains ultra-loose. That diverging outlook was crystallised this week, with Bank of England Governor Mark Carney saying a first rise in interest rates since the … Continue reading