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 →

Greece faces last chance to stay as cash runs out.

Sterling climbed against the euro yesterday after Greek voters overwhelmingly rejected terms of a rescue package, boosting safe-haven flows into Britain’s bonds and currency. There was no sense of panic selling in the euro, amid expectations the  European Central Bank would take policy action to stabilize the market if necessary and hold emergency funding to Greek … Continue reading →

Investors on Edge Ahead of Greek Referendum

The dollar hasn’t moved much overnight as markets are focused on the Greek referendum which takes place this weekend. Looking ahead to potential dollar strength, the Federal Reserve is still expected to go ahead with a rate hike in September despite a mixed job report for June, economists said Friday. “We came into work this … Continue reading →

Euro In Stasis Ahead of Greek Referendum

Sterling fell against the dollar and the euro on Wednesday, after data showed British manufacturing growth unexpectedly slowed to its weakest rate in more than two years in June. The Markit/CIPS manufacturing purchasing managers’ index (PMI) fell to 51.4, below a Reuters poll that had predicted a slight improvement to 52.5 though still above the … Continue reading →

It’s a Crisis Jim, But Not As We Know It

GBP/USD is trading moderately lower ahead of the European morning as the risk sentiment took a hit in the Asian session on faltering Greece debt talks. The spot market clocked a high of 1.5751 but failed to sustain and dropped below 1.5749 The European currencies are seem to be struggling as we move into the weekend … Continue reading →

Greek woes dominate market sentiment

May’s UK CPI figures headline the economic calendar in European trading hours. The core year-on-year inflation rate is expected to rise to 1 percent, rebounding from the 14-year low recorded in the prior month and snapping a three-month deceleration streak. Leading surveys appear to support the case for an improvement. UK news-flow has tended to disappoint … Continue reading →

Greek Problems Help Sterling Against Euro

Sterling gained some ground against a broadly weaker euro on Thursday while falling back from a near-three-week high against the dollar in a market struggling for new direction after six months of political and economic jitters. Some analysts said the pound, which hit 7-year highs after last month’s election generated none of the predicted trouble … Continue reading →

S & P Downgrades Greece as Euro Slides

Unlike last years speech by Bank of England Governor Mark Carney, the annual Mansion House dinner failed to move sterling one way or another. A slight move higher over the euro came really on the back off a sell off in the value of the single currency, with the dollar being the major benefactor, pushing … Continue reading →

Sterling falls as Bund yields creep higher

Sterling fell against the euro, which was boosted by higher European bond yields on Monday, extending two weeks of losses suffered on a sharp sell-off of euro zone bonds and a run of weaker-than-expected UK data. Figures released last week showed growth in Britain’s dominant services sector suffered its steepest slowdown in nearly four years in … Continue reading →