EasyFX: Sterling Rises As Euro Comes Under Fire

Sterling rose over 1 percent against the euro on Monday, on track for its biggest daily gains in two months, as the single currency weakened broadly after Greece and its European creditors reached agreement on a new debt deal for Athens. With no major UK economic data releases, events or policymaker speeches yesterday, the pound was … Continue reading →

Greek Drama Proves to be Storm in a Teacup

The pound rose against the dollar on Friday as hopes for a deal to avert a Greek exit from the euro zone and rebound in Chinese shares bolstered investor confidence. GBP/USD hit highs of 1.5551, the most since July 7, before pulling back to 1.5494 in late trade, ending up 0.79% for the day. The pound … Continue reading →

Sterling inches up from lows after budget

Sterling inched up from a one-month low yesterday, drawing some support from a budget bill that was not as fiscally tight as many investors had expected, as well as strong numbers from the housing market. The pound was unmoved by the Bank of England’s decision to, as expected, keep its benchmark interest rate at the record low … Continue reading →

Sterling Drops to 1 Month Lows

Sterling fell 1 percent against the euro and nearly 0.7 percent against the dollar on Wednesday, after Britain’s finance minister announced spending cuts in a budget speech that also lowered growth forecasts. Growth for 2015 was forecast to be 2.4 percent, down from a forecast of 2.5 percent made in March, George Osborne told parliament, … Continue reading →

Super Sunday it is! Greece has Final Final Deadline Set – Honestly

The pound was sold off in currency markets yesterday as mixed messages from the ongoing Greek saga continued to push the majors one way then another, with another deadline day now set for Sunday. This gave the euro a slight reprieve, pushing GBP/EUR back down under the 1.40 handle. Weaker than expected UK manufacturing production data also … 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 →

GBP advances vs Euro amid Greek crisis

The pound strengthened the most in a week against the euro, extending a quarterly advance that’s already seen it exceed analysts’ forecasts for year-end. Powered by the U.K.’s improving economy and prospects of an interest-rate increase, sterling has climbed versus all of its major counterparts since March. It advanced through 70 pence per euro for … Continue reading →

Greece Crisis Deepens – Euro Down

Sterling hit a one-month high against a weakened euro on Friday, racking up its third straight week of gains on the back of revived expectations for a rise in British interest rates at the end of this year. A jump in wage growth and signs of renewed dissent on the Bank of England’s policy committee … Continue reading →